Binance’s newest Proof of Reserves reveals a significant shift in person positioning, the place Bitcoin balances are climbing, whereas ETH and USDT fall.
On the identical time, Binance’s stablecoin over-reserves hit six-month highs, strengthening liquidity throughout ongoing market volatility.
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Bitcoin Accumulation Jumps as Person Conduct Shifts
Binance customers elevated their Bitcoin balances by 4% month-over-month, reaching 617,620 BTC, in response to the change’s thirty seventh Proof of Reserves snapshot. That’s an addition of 23,768 BTC since November 1.
The change makes use of Merkle bushes and zk-SNARKs to allow customers to confirm their balances with out disclosing private info. Present reserve ratios embrace:
- BTC: 102.11%
- ETH: 100%
- USDT: 109.16%
- USDC: 137.7%
- BNB: 112.32%
This method affords real-time transparency, in contrast to conventional audits, that are episodic and depend on third-party belief.
As of November 30, Binance reserves have been hovering close to $120 billion, with USDT (ERC-20) reaching a report $42.8 billion. Regardless of volatility, Binance stays the second-largest holder of world Bitcoin reserves.
CONFIRMED: #Binance Now Holds $120B in Reserves 🚀
Supply Crypto Quant 👇
On-chain knowledge exhibits Binance whole reserves holding close to ATHs (round $120 billion) and USDT (ERC20) reserves reaching a report $42.8 billion regardless of current market volatility.
The change additionally stays… pic.twitter.com/xy8ZIY5siV
— Altcoin Every day (@AltcoinDaily) November 29, 2025
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Common sentiment on X (Twitter) is that this development is bullish for Bitcoin, with customers stacking the pioneer crypto as ETH and stablecoin balances decline.
Person Ethereum holdings dropped 1.32% to 4.04 million ETH (-54,257 ETH), whereas USDT balances slipped 1.24% to 34.3 billion USDT (-430 million USDT).
Binance Asset Reserves. Supply: Wu Blockchain
The sample suggests rebalancing slightly than a broad withdrawal, with customers migrating into Bitcoin in periods of uncertainty.
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Stablecoin Over-Reserves Hit Six-Month Highs
Analyst AB Kuai Dong highlighted a pointy rise in Binance’s stablecoin buffers:
- USDT over-reserve ratio: 109.16% (up from 101.52% in June)
- USDC over-reserve ratio: 137.7%
- Total platform over-reserves: 12.32% above person funds
- BNB over-reserve ratio: 112.32%, highest amongst main belongings
He added that rising over-reserves “enhance the platform’s risk resistance capabilities,” particularly for stablecoins. The Binance change reiterated that each one person belongings stay backed 1:1.
The constant build-up, from June to December, alerts stronger liquidity administration. It additionally aligns with regulatory expectations that reserves stay absolutely out there for redemptions slightly than inside buying and selling.
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Alerts for Potential Future Strikes?
CryptoQuant famous that Binance’s Bitcoin reserve ratio not too long ago touched its lowest stage since 2018. This situation has traditionally preceded highly effective Bitcoin rallies because of diminished sell-side liquidity.
“History shows that hitting such lows often precedes powerful Bitcoin rallies, simply because the liquidity required to fuel a price surge is now fully available on the exchange,” wrote CryptoQuant analysts.
But, current market knowledge exhibits that Bitcoin is leaving exchanges globally, whilst Binance balances rise. This means that Binance is gaining market share from rivals slightly than reversing the broader development towards self-custody.
The mix of rising Bitcoin accumulation, increasing stablecoin over-reserves, and traditionally low reserve ratios creates a combined however doubtlessly constructive setup.
If macro circumstances stabilize, Binance’s strengthened liquidity and rising buffers place the change to assist increased buying and selling exercise in a future rally part.
