Binance, the largest cryptocurrency exchange, recently revealed reserve increases for the top five digital assets by market cap despite recent price declines. The Binance proof-of-reserve (PoR) showed over 104% excess backing for Bitcoin (BTC), Ethereum (ETH), Tether (USDT), BNB, and Solana (SOL).

According to Binance, the Proof of Reserves demonstrates that the assets held in custody for users are fully covered. This means that Binance has funds that match all user assets 1:1, along with additional reserves.

In the latest PoR audit, Bitcoin balances on the platform increased by 2.28%, equivalent to 12,970 BTC. Binance users hold more than 581,758 Bitcoins valued at over $36 billion.

The company also noted an 8% increase in USDT holdings, with Tether assets growing by over $1.6 billion to reach around $22.8 billion USDT. BNB and Solana saw increases of 3.7% and 2.7%, respectively, with reserves for BNB and SOL reported at 40 million and 31 million.

However, Ethereum, the second-largest cryptocurrency, experienced a decrease in user balances. Binance’s PoR indicated a 1.9% decline in ETH reserves, amounting to 87,796 Ether. The total net customer Ethereum holdings stood at 4.3 million ETH coins.

The recent PoR audit by Binance was the first since Richard Teng took over as CEO, following the departure of former CEO Changpeng Zhao. Teng highlighted the company’s “greater maturity” in operations.

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