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User Ethereum Holdings on Binance Decline by Over 183,000 ETH in October Report

Binance customer balances in Ethereum dropped by 4.61% over a one-month span, according to the exchange's latest Proof of Reserves snapshot.

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Binance's Proof of Reserves update for October shows a noticeable reduction in user Ethereum holdings between September 1 and October 1. Total customer balances fell by 4.61%, representing an outflow or reduction of approximately 183,600 ETH and bringing the exchange's total customer ETH holdings to roughly 3.799 million.

The decline in Ethereum balances contrasted with user Bitcoin positions, which increased by 0.91% to reach approximately 688,600 BTC. Meanwhile, other assets also contracted slightly, with Tether reserves decreasing by 0.87% to 32.03 billion USDT and BNB balances dropping by 0.77% to 43.04 million BNB. The report notes that reserve data represents a static snapshot rather than real-time trading metrics.

The data release coincided with a general downturn across major cryptocurrencies, where Ethereum traded down 5% at $2,573.66. The report also followed reporting on regulatory friction in Europe, where Binance experienced setbacks regarding its MiCA licensing application with Greek regulators.

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