On-chain data cited by Techub News shows Binance’s Bitcoin reserves have risen to 693,000 BTC, the highest level in two years. Data from Darkfost indicates the holdings account for about 30% of the total Bitcoin held by major exchanges. Since late April, Binance’s reserve has increased by roughly 77,000 BTC.
The report said the rise in reserves may reflect investors moving Bitcoin onto exchanges after the recent price rally in order to sell. It also pointed to other factors, including a planned $1 billion investment by the SAFU fund. The item was attributed to CoinPedia in the original brief.
Techub News, citing on-chain data platform Darkfost, reported that Binance’s Bitcoin reserves have climbed to 693,000 BTC, the highest level in two years. The figure accounts for about 30% of the total Bitcoin held across major exchanges.
Since late April, Binance’s reserve has grown by about 77,000 BTC. The report said the increase may indicate that investors moved Bitcoin onto exchanges after the recent rally in order to sell. It also cited other factors, including a planned $1 billion investment by the SAFU fund. The brief credited CoinPedia.
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