Since September 2024, bitcoin reserves on the crypto exchange Binance have been steadily declining, dropping from around 631,000 BTC to 574,000 BTC, while the platform’s unrealized profits from its flagship crypto asset continue to grow.
Reserves that are primarily used to maintain operating liquidity Binance and work BNB Chain, have benefited from the recent rise in prices Bitcoin. The value of the remaining assets has increased despite the overall reduction in the volume of reserves. Unrealized profits are currently Binance from bitcoins reached a historical maximum and amounted to about 60,000 BTC.
The crypto exchange also holds around 16,000 BTC in custodial wallets to back its BTCB token to ensure sufficient liquidity for tokenized Bitcoin on the BNB network.
Stock market activity spiked when the Bitcoin reached a new all-time high. According to CryptoQuant, spot trading volumes on centralized platforms have rebounded, while futures turnover and total open interest have increased. This indicates that new capital has flowed into derivatives markets amid the rally.
Binance, for example, recorded the largest single-day increase in spot trading volume both before and after Bitcoin reached a new high. On July 18, the exchange’s market share was 52%.