Binance’s Bitcoin Reserve Swells by 7,843 BTC Amid Impressive $3.27 Billion Inflows, July Report Reveals

Key Takeaways

• Binance posts $3.27 billion in inflows in July.
• Bitcoin holdings surge, while Ethereum and Tether balances dip slightly.
• The report reinforces trust in Binance’s financial health.

Binance has released its 21st Proof of Reserves  (PoR) for July, showing substantial reserves across various cryptocurrencies.

The report reflects a significant increase in Bitcoin (BTC) holdings, while slight decreases were noted in Ethereum (ETH) and Tether (USDT) balances.

Binance’s 21st Proof of Reserves: A Comprehensive Overview

Bitcoin’s latest snapshot underlines its strong solvency position. It ensures that customer assets are fully backed with a reserve ratio exceeding 100% for major cryptocurrencies. The exchange’s official website highlights impressive reserve ratios: 133% for USDT, 106% for Bitcoin, and 103% for Ethereum.

Here’s a brief overview of the asset balances according to the latest snapshot:

According to the latest proof of reserve, Binance saw $3.27 billion in inflows in the past month.

As a result, its reserves also saw a notable jump in July, adding 7,834 BTC worth $450 million, marking a 1.29% increase over the past month. Ethereum’s net balance, on the other hand, dropped by 10,103 ETH ($24.8 million) or 0.21%, suggesting some profit-taking and shifting preferences.

Tether also experienced a 1.52% decrease, with a net balance drop of $327 million, possibly because investors likely converted them for other assets. Conversely, Binance Coin saw a 1.55% increase, adding 617,454 BNB, equivalent to $303 million, demonstrating confidence in Binance’s native token.

Ripple (XRP), USDC, Dogecoin (DOGE), and Polygon (MATIC) holdings remained relatively stable.

Much like Binance, other exchanges like Bybit and Bitfinex also experienced substantial inflows of $276 million and $100 million, respectively.

About the Author

Teuta Franjkovic

Teuta is a seasoned writer and editor with more than 15 years of experience. She has expertise in covering macroeconomics and technology as well as the cryptocurrency and blockchain industries. She has worked for several publications as a journalist and editor, including Forbes, Bloomberg, CoinTelegraph, Coin Rivet, CoinSpeaker, VRWorld and Arcane Bear. Teuta began her professional career in 2005, working as a lifestyle writer at Cosmopolitan in Croatia. From there, she branched out to several other publications, covering mainly business and the economy. She then turned her attention to the world of cryptocurrency and blockchain, believing that crypto is among the most important inventions in the history of humanity. Her involvement in fintech began in 2014 and she has since lent her expertise in writing, editing and gathering information about the world of crypto, blockchain, NFTs and Web3. An all-round news hound, mentor, editor, and writer, Teuta enjoys teamwork and good communication. She holds a WSET2 diploma and has a thing for chablis, punkrock music and shoes. She also holds a double MA in Political science and Entrepreneurship.

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