Report: Decline in $BTC , $ETH , $BNB
and DT Balances on Binance During September
A recent report from Binance revealed a significant decrease in user assets during September, as the cryptocurrency market experienced sharp price fluctuations.
Report Details
According to the 23rd report on reserve proof, holdings of Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) saw a substantial drop. Binance experienced an outflow of 9,577 BTC and 61,326 ETH last month, amounting to approximately $595 million and $148.5 million, respectively. Additionally, USDT reserves fell by 3.16%, from $22.11 billion to $21.41 billion, reflecting an outflow of around $700 million.
Increase in BNB Holdings
On the other hand, Binance recorded a 2.17% increase in BNB holdings, rising from 40.7 million BNB to 41.5 million BNB during the specified period.
Market Impacts
Moreover, Binance is not the only exchange to witness a decline in digital asset reserves. According to Coinglass data, exchanges Kraken, Bitfinex, and Bybit saw outflows of 19,553 BTC, 9,848 BTC, and 4,982 BTC, respectively, over the past thirty days. Meanwhile, **Bithumb** recorded an inflow of 3,017 BTC during the same period.
Market Share
According to a report published by crypto.news on October 3, Binance's market share has dropped to levels last seen in 2020, with spot and derivatives trading volumes declining by 21% and 23%, respectively, in September. Binance now holds a 27% share of the total spot trading volume and 40% of the derivatives market.
Additionally, exchanges Upbit and OKX saw a notable decrease in their market shares, while Crypto.com increased its share by 8%, reaching 10.5%.
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