On December 1, 2025, Binance unveiled its 37th Proof of Reserves report, presenting noteworthy changes in user asset patterns. According to details reviewed by Wu Blockchain, the report highlighted increases in Bitcoin (BTC) and Binance Coin (BNB) reserves, whereas Ethereum (ETH) and Tether (USDT) reserves experienced decreases.
What Drives the Increase in Bitcoin and BNB?
Binance’s latest data shows a marked upsurge in Bitcoin holdings, climbing from 593,852 BTC at November’s start to 617,620 BTC by December’s beginning—a 4% rise. This significant net inflow of approximately 23,768 BTC suggests users are regaining confidence in the platform amid market volatility, leading to an increased focus on Bitcoin accumulation.
In parallel, Binance Coin (BNB) also saw a substantial rise, with reserves increasing from 37.88 million to 39.42 million, equating to a 4.06% uptick. This growth is credited to the expanded use of BNB across the Binance ecosystem in applications such as staking, Launchpad, and blockchain-related transactions.
These increases in Bitcoin and BNB reserves underscore a broader trust in Binance’s stability and the attractiveness of Bitcoin for long-term holdings. Spot ETF activity and portfolio rebalancing before year’s end may have further bolstered BTC reserves.
What’s Behind the Decline in Ethereum and USDT?
Conversely, there have been noticeable contractions in Ethereum and Tether holdings. Binance users’ ETH reserves fell from 4.09 million ETH to 4.04 million ETH, a decrease of 1.32%. This reduction, amounting to approximately 54,257 ETH, could be driven by profit realization or a pivot towards decentralized finance activities as users react to short-term uncertainties preceding Ethereum updates.
In the realm of stablecoins, Tether balances decreased from $34.73 billion to $34.30 billion, reflecting a 1.24% drop. This $430 million liquidity shift suggests a strategic realignment as users seek alternative assets, often motivated by an increased appetite for market risk and new investment opportunities.
Despite such declines, the overall robustness of Binance’s reserves remains intact, offering insights into diverse user strategies and evolving market conditions.
Key Takeaways from the Report
- •A 4% growth in Bitcoin reserves signifies returning investor confidence.
- •BNB reserves increased by 4.06%, driven by its utility within Binance.
- •ETH reserves declined by 1.32%, influenced by user strategy shifts towards DeFi.
- •A 1.24% drop in Tether holdings points to a transition to other assets.
“The shifts in reserves reflect our users’ dynamic strategies and the evolving market landscape.”
As the crypto community navigates these changes, Binance remains a focal point in assessing the broader movements within the digital asset domain.