coin-img-ETHETH+1.60%coin-img-BTCBTC+1.38%coin-img-SOLSOL+2.36%coin-img-XAUTXAUT+0.89%coin-img-PAXGPAXG+0.95%coin-img-BASEDBASED+0.48%coin-img-CDDCDD-42.50%coin-img-XRPXRP+2.40%coin-img-ETHETH+1.60%coin-img-BTCBTC+1.38%coin-img-SOLSOL+2.36%coin-img-XAUTXAUT+0.89%coin-img-PAXGPAXG+0.95%coin-img-BASEDBASED+0.48%coin-img-CDDCDD-42.50%coin-img-XRPXRP+2.40%coin-img-ETHETH+1.60%coin-img-BTCBTC+1.38%coin-img-SOLSOL+2.36%coin-img-XAUTXAUT+0.89%coin-img-PAXGPAXG+0.95%coin-img-BASEDBASED+0.48%coin-img-CDDCDD-42.50%coin-img-XRPXRP+2.40%coin-img-ETHETH+1.60%coin-img-BTCBTC+1.38%coin-img-SOLSOL+2.36%coin-img-XAUTXAUT+0.89%coin-img-PAXGPAXG+0.95%coin-img-BASEDBASED+0.48%coin-img-CDDCDD-42.50%coin-img-XRPXRP+2.40%

Data: Binance's ETH Reserves Drop to Multiyear Low as Stablecoin Holdings Rise

Binance's Ethereum (ETH) reserves have slipped to 3.3 million ETH, undercutting the February 2024 low of 3.53 million ETH, according to CryptoQuant analyst Amr Taha. The exchange's Bitcoin reserves also fell, easing from about 670,000 BTC in early February to 636,000 BTC in early April. Over the same period, stablecoin balances moved higher: USDT reserves rose from $35 billion to $38 billion between March and April, while USDC reserves increased from $4.6 billion to $6.6 billion. Analysts say a thinner pool of crypto on exchanges alongside expanding stablecoin reserves points to reduced sell pressure and stronger spot buying capacity.
Selected
ETH
ETH+1.54%
BTC
BTC+1.34%
Disclaimer: The content above is only the author's opinion and does not represent BingX’s stance. It shall not be construed as investment advice from BingX. For details, refer to the Terms and Conditions.