DATA10h ago
Binance Eth Reserves Hit Multi-Year Low As Stablecoin Balances Surge
Binance's Ethereum $ETH reserve has fallen to 3.3 million ETH, dropping below February 2024 lows of 3.53 million ETH, CryptoQuant analyst Amr Taha reports.
Bitcoin reserves also declined from 670,000 BTC in early February to 636,000 $BTC in early April.
Meanwhile USDT reserves climbed from $35 billion to $38 billion between March and April. USDC reserves jumped from $4.6 billion to $6.6 billion in the same period.
Analysts say less crypto on exchange combined with rising stablecoin reserves signals easing sell pressure and growing spot buying power.
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