Analyst: After Binance opened withdrawals, BTC balance decreased by 21,000 coins, on-chain reserves still reach $139.7 billion

Odaily Seongu Ilbo reports - Analyst Murphy stated that since Binance gradually restored withdrawal functions on November 1, a wave of fund withdrawals has occurred on the platform. On-chain data shows that Binance's BTC balance has dropped from 732,000 coins to 711,000 coins, a cumulative decrease of 21,064 coins. However, compared to the platform's original BTC reserves, the outflow scale is still less than 3%, and the overall impact is relatively limited.

Murphy believes that for ordinary users with limited technical capabilities, self-custody wallets also carry risks such as private key loss and asset theft, and these risks may not necessarily be lower than keeping assets on large exchanges. In comparison, diversifying some assets across different exchanges may be an option for risk distribution.

He also pointed out that Binance's current on-chain asset reserves still reach approximately $139.7 billion, of which BTC and USDT together account for nearly 60%, BNB accounts for 18%, and ETH accounts for 6%.