Bybit’s 25th PoR Shows BTC & ETH Surge, USDT Drops
Bybit’s August 14 Proof of Reserves reveals increased BTC and ETH holdings, while USDT reserves decline.
- BTC holdings rose 5.61% to 58.9k BTC
- ETH reserves jumped 6.59% to 604k ETH
- USDT holdings dropped by 4.75%
Bybit has just published its 25th Proof of Reserves (PoR), based on a snapshot taken on August 14. The report offers transparency into the exchange’s on-chain assets and customer holdings. As usual, PoR is a key tool for ensuring user trust, especially in the wake of past industry collapses.
This latest release shows a clear uptick in Bitcoin (BTC) and Ethereum (ETH) holdings by users, even as Tether (USDT) reserves have dipped slightly.
BTC and ETH Holdings Continue Upward Trend
Bybit users’ Bitcoin holdings have increased by 5.61%, now totaling 58,900 BTC, a rise of 3,130 BTC since the previous snapshot. This upward trend indicates growing user confidence in holding BTC on the platform or potentially reflects market activity around price gains.
Similarly, Ethereum holdings surged by 6.59%, bringing the total to 604,000 ETH. That’s an increase of 37,300 ETH, marking one of the largest jumps in recent months. This could be tied to renewed interest in ETH ahead of potential network upgrades or general bullish sentiment.
USDT Holdings See a Decline
While BTC and ETH holdings increased, USDT balances fell 4.75%, down to 4.85 billion USDT — a reduction of approximately 242 million USDT. This decline could indicate users are converting stablecoins into more volatile assets like BTC or ETH, or withdrawing USDT for use elsewhere.
The contrast in asset behavior shows how user strategy can shift quickly based on market conditions or platform trust levels. Nonetheless, the strong BTC and ETH growth suggests continued faith in Bybit’s operational transparency.
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