OKX's November proof-of-reserves report shows Bitcoin holdings up 9.66% and Ethereum up 2.95%, while USDT balances fell 9%.
Macro & Markets ·
OKX released its 49th proof-of-reserves report based on a November 1 snapshot, showing Bitcoin reserves rose 9.66% to 156,609 BTC relative to the October 3 prior report, representing an addition of 13,800 BTC. Ethereum holdings increased 2.95% to 1.92 million ETH, a gain of 54,879 ETH. By contrast, USDT balances declined 9% to 7.96 billion tokens, a decrease of approximately 787 million USDT. OKB holdings ticked down 0.08% to 19.68 million tokens.
The divergent movements across assets reflect shifting user deposit and withdrawal patterns over the month. The substantial rise in Bitcoin and modest gain in Ethereum suggest inflows of those assets to the platform, while the notable contraction in stablecoin reserves points to net outflows of USDT. These figures form part of OKX's regular disclosure practice, intended to provide transparency into custodial holdings on behalf of users.
No forward guidance or explanation for the reserve shifts was provided in the report. Whether the USDT decline reflects broader market dynamics, tactical reallocation by users, or other factors remains unspecified.