Binance has released its October proof-of-reserves data, showing that user BTC holdings increased by 0.91% since September to approximately 688,600 BTC, according to crypto commentator @WuBlockchain. The snapshot was taken on October 1 and reflects growing Bitcoin accumulation among users on the exchange.
At the same time, user ETH holdings declined by 4.61% to roughly 3.799 million ETH, while USDT holdings fell 0.87% to about 32.03 billion USDT. User BNB holdings also decreased to around 43.04 million BNB. This mixed positioning suggests cautious sentiment outside of Bitcoin, even as Binance emphasizes transparency and one-to-one asset backing.
Binance also announced enhancements to its Proof of Reserves system that allow users to verify their assets are backed one-to-one. The update aims to strengthen user trust and confidence in the platform’s asset security. Traders are now watching whether the increase in BTC holdings signals broader bullish momentum or whether declines in ETH and USDT point to continued risk aversion across the crypto market.
