Binance Proof of Reserves fall by $3.5B in 24 hours

Hull Invest

Over the past 24 hours, Binance USD (BUSD) and Bitcoin (BTC) Proof of Reserves (PoR) have fallen by $3.45 billion and $472.86 million respectively – according to Glassnode data analyzed by CryptoSlate.

Source: (Glassnode)

within that same period. The Binance PoR brought in about $1.86 billion in both USD Coin (USDC) and Tether (USDT). Ethereum (ETH) margin reduction was also observed.

Total USD PoR on Binance is currently below $40 billion, which can be seen in the Glassnode chart below. This marks a steep year-to-date decline and a drop of about $13.2 billion in his PoR holdings since September.

Source: (Glassnode)

Binance witnessed a sharp drop in both BTC PoR holdings and FX balance holdings in late November. In late November, BTC PoR holdings were at 555,261 BTC and exchange holdings were at 656,361 BTC.

Source: (Glassnode)

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