OKX Releases 31st PoR: BTC Down, ETH & USDT Up
OKX’s latest proof of reserves shows a BTC dip, but ETH and USDT holdings are up. Snapshot date: May 10.
- BTC holdings dropped by 6%, down 7,987 BTC.
- ETH holdings rose 5.66%, hitting 1.87 million.
- USDT reserves increased by 11.46%, reaching 8.75 billion.
OKX, one of the world’s leading cryptocurrency exchanges, has published its 31st Proof of Reserves (PoR) report based on a snapshot taken on May 10. This monthly transparency initiative continues to show the platform’s commitment to user asset backing—but this time, the numbers reflect some interesting shifts in user holdings across major assets.
BTC Holdings Decline, ETH and USDT Climb
In the latest snapshot, BTC holdings dropped by 6%, falling from over 132,000 BTC in April to approximately 125,000 BTC. That’s a reduction of around 7,987 BTC, which could signal either increased user withdrawals, shifting investment strategies, or profit-taking behavior amid market volatility.
On the other hand, Ethereum (ETH) balances rose by 5.66%, growing by 100,000 ETH to reach a total of 1.87 million ETH. This increase suggests growing user confidence in Ethereum, possibly driven by upcoming tech upgrades or recent bullish sentiment.
Even more notably, USDT holdings saw a strong 11.46% jump, rising to 8.75 billion USDT, an increase of nearly 899 million USDT. This suggests a higher influx of stablecoins onto the exchange, which could indicate that users are preparing dry powder for future trades or opting for more stability in uncertain times.
What This Means for Users
OKX’s continued publication of its PoR provides transparency and accountability, reinforcing user trust. The divergence in asset movements—BTC declining while ETH and USDT rise—paints a picture of evolving investor strategies. Users appear to be moving away from BTC in the short term, favoring ETH or holding USDT in anticipation of new opportunities or volatility.
For anyone tracking exchange reserves as a proxy for market behavior, these figures offer useful insights into the sentiment and strategy of crypto participants.
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