Binance has published its 32nd Proof of Reserves report, reflecting the state of user-held assets as of July 1, 2025. The report shows a significant decline in BTC and ETH reserves compared to the previous month's data from June 1.
Decrease in BTC and ETH Reserves
According to the report, users held 573,000 BTC, down by 19,400 BTC, marking a 3.27% decrease. Ethereum holdings also took a hit, falling by 285,000 ETH to a total of 5.051 million ETH — a 5.34% drop.
Increase in USDT Holdings
While BTC and ETH reserves dipped, USDT reserves at Binance increased by 760 million USDT, representing a 2.64% gain. Binance now holds 29.59 billion USDT on behalf of users. This rise in stablecoin holdings suggests that users might be moving their assets into less volatile options during uncertain market conditions.
Transparency from Binance
Binance's Proof of Reserves reports are part of the exchange's ongoing efforts to build trust and maintain transparency in the crypto space. By releasing these monthly snapshots, Binance allows users to verify that their assets are backed 1:1, in line with its commitment to customer protection. As the market evolves, these regular disclosures help the public track trends in user behavior, including shifts in investment preference between volatile and stable assets.
The Binance July report highlights the current state of user assets and reflects broader market trends. The decline in BTC and ETH reserves alongside the increase in USDT may indicate shifts in user investment sentiment.
