Bitcoin reserves on Binance have exceeded 693,000 BTC, reaching their highest level in the past two years. According to analyst Darkfost, this accounts for about 30% of the total BTC reserves on major cryptocurrency exchanges. Since the end of April, the figure has increased by approximately 77,000 coins. According to the expert, one of the main reasons for the influx was the transfer of Bitcoin to Binance by owners who decided to take advantage of rising prices to lock in profits. The platform's high liquidity also contributes to the concentration of a significant portion of market flows on it. An additional 15,000 BTC may have been added following Binance's decision on January 30, 2026, to convert the $1 billion SAFU fund reserves from stablecoins to Bitcoin.
Another factor could be the incident with ColdCard hardware wallets. The exploitation of a vulnerability in the device firmware began on July 30, 2026, with confirmed losses exceeding 1,700 BTC. Some users may have transferred assets to the exchange for additional protection and ease of access. However, the Exchange Reserve metric does not allow for determining the specific purpose of a deposit. The CryptoQuant metric reflects the total volume of coins on addresses controlled by the exchange and includes client funds. The company's Bitcoin is not included in this metric. The growth of reserves can be seen as a potential selling pressure factor, but it does not mean that the coins on the exchange are already up for sale.
According to Darkfost, the current dynamics show a scenario where BTC owners transfer coins to Binance after the May and subsequent market growth. After the May rally, Bitcoin lost about 30%, but later prices rose again. However, part of the influx may have another reason related to asset storage. The volume of reserves itself does not show which motive prevails among coin owners. Additionally, the Exchange Reserve considers the gross balance of the exchange's addresses and does not separate internal fund movements between its own wallets, which can affect the assessment of the scale of changes. Therefore, the current growth of reserves indicates an increase in the volume of BTC on Binance but does not confirm the start of a large-scale sell-off.