Binance released its thirteenth reserve certificate on December 1, 2023. The latest data showcases a significant net inflow of $311 million month-over-month (MOM). This influx is a critical indicator of Binance’s robust market position despite fluctuating market conditions. However, the details reveal nuanced changes in specific asset holdings:
Bitcoin (BTC) Holdings: Binance reported a decrease of 4.05% MOM in BTC assets, amounting to a reduction of 23,656 BTC, bringing the total holdings to approximately 561,000 BTC.
Ethereum (ETH) Holdings: The ETH assets saw a modest decrease of 0.67%, suggesting a relatively stable holding pattern in this major cryptocurrency.
Tether (USDT) Assets: Contrasting with BTC and ETH, USDT holdings experienced a significant increase of 5.67%, translating to an additional 866 million USDT, raising total holdings to 16.1 billion USDT.
The PoR revealed reserve rates for various cryptocurrencies ranging from 101.62% to 117.99%. This indicates that Binance’s reserves substantially exceed the net balance of its customer holdings for all listed cryptocurrencies, ostensibly ensuring that the exchange can cover potential customer withdrawals.
