Binance Proof-of-Reserves Highlights Investor Move from BTC to ETH

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Binance has released its 31st Proof-of-Reserves (PoR) snapshot as of June 1, showing minor shifts in user holdings across top assets. The numbers reflect routine market adjustments but offer a pulse on investor sentiment heading into mid-2025.

BTC Down, ETH Up, USDT Slightly Lower

According to the report, Binance users now collectively hold 593,000 BTC, representing a 1.82% drop from May 1. In contrast, Ethereum holdings have risen by 1.05% to 5.337 million ETH, signaling slight investor confidence in ETH despite recent market turbulence. USDT balances saw a mild dip of 0.77%, now totaling 28.83 billion, marking a decline of $223 million over the past month.

These figures come amid market fluctuations and ongoing demand for transparency from major exchanges. Binance remains the second-largest crypto reserve holder globally, with approximately $110 billion across BTC, ETH, USDT, and USDC. Coinbase still leads the pack with $129 billion under custody, as noted in earlier reports.

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BNB Dips Below $650 Post-Report

Following the update, Binance’s native token BNB slipped below $650, currently trading at $649.89, despite posting a modest 0.15% gain over 24 hours. The price dip suggests investors are digesting the report with caution, even though Binance continues to show strong reserve backing.

PoR Continues to Anchor Trust

This update is part of Binance’s ongoing push to reinforce transparency and user confidence after a turbulent period for the industry. Though no major red flags surfaced, these numbers will be closely watched as regulatory scrutiny intensifies and trading activity picks up for the second half of the year.

Binance’s consistency in publishing PoR reports shows a clear intent to stay ahead on trust, something traders and regulators alike are paying close attention to.