Key Insights:
- Binance reported higher Bitcoin and Ethereum holdings, with users adding over 25,800 BTC and 382,000 ETH in a month.
- Customer USDT balances fell by about 460 million, marking the only major asset decline in the latest reserves report.
- Binance remained the top crypto exchange by trading volume, ahead of Coinbase, OKX, Bybit, Upbit, and Bitget.
Binance Proof of Reserves data released on June 1 showed higher user holdings of Bitcoin and Ethereum, while USDT balances moved lower. The update comes as Binance remains the largest crypto exchange by trading volume, with traders also watching funding rate data and activity from large holders.
Binance Proof of Reserves Shows Changes in User Holdings
Binance has published its 43rd Proof of Reserves report, giving users a fresh look at assets held on the exchange. The report showed that customer Bitcoin holdings climbed to about 630,000 BTC as of June 1. That was an increase of 25,838 BTC from the previous report and a monthly gain of 4.26%.
Ethereum holdings also increased during the same period. Users held about 4.14 million ETH on the exchange, up by 382,619 ETH from a month earlier. The figure represents a 10.17% rise.
USDT moved in the opposite direction. The report showed that customer balances fell to roughly 34.3 billion USDT. That was a drop of around 460 million USDT, or 1.33%, compared with the May 1 snapshot.
The latest figures suggest that users added more Bitcoin and Ethereum while reducing part of their stablecoin holdings. Market participants often follow these reports because they provide a picture of how assets are moving on one of the world’s largest trading platforms.
Proof of reserves reports became more important after concerns about transparency in the crypto industry. They allow customers to compare exchange liabilities with reserves held by the platform.
Binance continues to release reports regularly, making it a closely followed source of information for traders and investors. The newest report arrives at a time when many market participants are looking for signs of where money is flowing within the digital asset market.
Binance Funding Rate Points to Bearish Trader Positioning
While customer Bitcoin holdings increased, data shared by market analysts showed a different picture in the futures market. According to the analysis, Binance funding rates are trading about 370 basis points below the median level seen across Binance, OKX, and Bybit.
Such readings can suggest that a larger number of traders are holding short positions. At the same time, buying activity from retail traders has increased.
Market participants noted a sharp rise in aggressive buying during the past month, showing that smaller traders have continued to buy despite recent market weakness.
Data from the same report suggested that larger holders have been moving in the opposite direction. Whale wallets were seen distributing assets while retail traders continued buying. This difference between retail demand and whale selling has become one of the main themes in the market. Traders are now watching closely to see which side gains control in the coming weeks.
Binance Stays Ahead of Coinbase, OKX, Bybit, and Other Exchanges
It is worth noting that Binance remains the leading cryptocurrency exchange by trading activity. CoinMarketCap rankings show Binance holding the top position among spot exchanges. The platform recorded more than $9 billion in daily trading volume, placing it ahead of every major competitor.
The rankings also show Coinbase, Upbit, OKX, Bybit, Bitget, Gate, KuCoin, MEXC, HTX, and Crypto.com Exchange among the largest trading platforms in the industry. Despite strong competition, Binance continues to lead in trading volume, liquidity, listed assets, and user traffic.
Millions of users visit the exchange every week, helping it maintain a sizable lead over rivals. Its large number of trading pairs and deep market liquidity have helped keep it at the top of the rankings. Other exchanges continue to expand their presence. Coinbase remains a major platform in North America.
Upbit has a strong position in South Korea, while OKX and Bybit remain key players in derivatives trading. Exchanges such as Bitget, Gate, and KuCoin have also built large international user bases. Even so, Binance remains the exchange most traders watch when looking for signs of market activity.
