Binance’s August proof-of-reserves snapshot shows users added 16,349 BTC while ETH and Tether balances declined Binance’s 45th Proof of Reserves report — based on a snapshot of user balances taken on Aug. 1, 2026 — again shows diverging flows across major crypto assets. Bitcoin balances rose, while Ethereum and USDT holdings fell. Key figures - Bitcoin: ~657,000 BTC total held by users, up 2.55% from the July 1 snapshot — an increase of 16,349 BTC. - Ethereum: ~3.98 million ETH, down 2.57% (about 105,154 ETH). - USDT (Tether): ~32.9 billion tokens, down 2.57% (roughly 870 million USDT). What the trend looks like - The August increase continues a recent run of BTC inflows: users added 25,838 BTC in May and 7,715 BTC in June. Between May and August snapshots, Binance customer balances rose by nearly 50,000 BTC. - ETH has fallen for two consecutive snapshots after a sharp rise in June: roughly 4.14M ETH on June 1 → ~4.08M in July → ~3.98M in August. - USDT shows three straight monthly declines: ~34.3B in June → ~33.7B in July → ~32.9B in August. - Similar patterns — rising BTC balances alongside lower USDT — have been reported in other exchange snapshots, including Bybit and OKX. Important context and caveats - Reserve changes don’t automatically mean users bought or sold assets on Binance’s spot markets. Balances can move for multiple reasons: deposits from other exchanges, transfers from private wallets, internal transfers between Binance products, staking, or on-exchange trades. - Binance reported reserve ratios of 100.25% for both BTC and ETH (meaning ~1.0025 units held in reserve per unit attributed to users) and 103.62% for USDT — indicating reported on-chain assets exceed user liabilities for those tokens in the snapshot. - Binance’s Proof of Reserves uses Merkle trees and zero-knowledge proofs so users can verify their inclusion without exposing others’ balances. The exchange publishes related wallet addresses and verification data for customers to check against the Merkle root. - Proof of Reserves is a snapshot verification tool, not a full audit: it does not provide continuous coverage, nor does it independently review all off-chain liabilities, loans, or internal controls. Asset and customer balances can change immediately after the snapshot. Market impact and what to watch next - The report measures on-chain balances and disclosed liabilities rather than trading activity; no specific market moves can be reliably blamed on the publication itself. - Binance has not confirmed the date for its 46th report, but the exchange’s recent cadence suggests a Sept. 1 snapshot could be next. That release will indicate whether BTC inflows continued and whether ETH and USDT declines persist — though any interpretation should be limited to reported balance changes, not assumed buying behavior. Bottom line: August’s snapshot underscores continued accumulation of BTC on Binance over recent months while ETH and Tether holdings slipped — but the underlying reasons for those flows remain unclear without more granular disclosure. Read more AI-generated news on: undefined/news