Binance's Bitcoin Holdings Surge 10% Since Year's Start, Data Shows

IconCryptoNewsTerminal Staff09 Jul, 2024

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Binance's Bitcoin Holdings Surge 10% Since Year's Start, Data Shows

CryptoQuant CEO Ki Young Ju has reported that Binance, the leading cryptocurrency exchange, has witnessed a remarkable 10% increase in its Bitcoin holdings since the start of 2024. In contrast, many other exchanges have experienced an 8% decline in their BTC reserves. Ju emphasized the significance of relying on data rather than speculative rumors, stating, "Focus on data, not rumors." This news follows concerns raised last year regarding Binance's financial stability. However, Ju's analysis suggests that the exchange is performing well, highlighting the importance of data-driven insights in assessing the health of cryptocurrency businesses.