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Coin Edition 2025-06-09 07:00:09

Binance Users Shed $223 Million in Tether and Bitcoin Holdings to Buy More Ethereum

Binance’s June PoR report shows user BTC holdings down and ETH holdings up. This data suggests a capital rotation into Ethereum as its network usage hits a 1-year high. Analysts predict ETH could rally to $4,000 if it breaks the key $2,700 resistance. Binance’s latest Proof of Reserves (PoR) report reveals a subtle but significant shift in trader strategy, suggesting a capital rotation out of Bitcoin and into Ethereum. The June 1, 2025, report shows user Bitcoin holdings fell by 1.82% to 593,000 BTC, while Ethereum balances climbed 1.05% to 5.34 million ETH. While the changes are modest, the dip in both Bitcoin and USDT holdings, which fell by $223 million, points to a clear trend: traders may be moving capital into ETH to capitalize on its growing momentum and bullish market sentiment. This on-chain data from the world’s largest exchange provides a new layer of evidence for an increasingly popular market thesis. Investors Rotate into ETH as Momentum Builds According to market analyst Ted Pillows, Ethereum is entering a strong accumulation and momentum phase. “ $ETH is still consolidating after a bullish May, ” he noted, adding that rising ETF inf… The post Binance Users Shed $223 Million in Tether and Bitcoin Holdings to Buy More Ethereum appeared first on Coin Edition .

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