Bybit users shift to Bitcoin, Ethereum in June snapshot
USDT reserves see significant decline
Leading crypto exchange Bybit has released its 24th Proof of Reserves snapshot, dated June 19, revealing a mixed shift in user-held assets.
Compared to the previous report from May 23, user balances showed a notable increase in Bitcoin reserves, which rose by 884 BTC (+1.67%), bringing the total to 53,906 BTC.Ethereum holdings saw even stronger growth, jumping 6.09%, with an additional 37,168 ETH, raising total ETH reserves to 646,987 ETH.
This uptick in BTC and ETH balances suggests growing user confidence in major crypto assets, especially amid ongoing market volatility and increased regulatory pressure on stablecoins and lesser-known tokens.
USDT reserves see significant decline
Meanwhile, USDT holdings dropped by 7.44%, declining by $386 million, reducing Bybit’s total Tether reserves to approximately $4.8 billion.The decrease may reflect user withdrawals, asset reallocation, or risk-averse behavior linked to broader market uncertainty or geopolitical tension.
Bybit’s native token MNT posted a modest gain of 2.10%, rising from $475.5 million to $485.5 million, signaling a stable position for the exchange within the crypto landscape.
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