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Binance's latest reserve testing report shows a notable decline in user assets in September as the cryptocurrency market wandered into the red zone.
According to Binance's 23rd PoR reportThe stock market's holdings of bitcoin (btc), ethereum (eth), and Tether (USDT) declined in September.
Binance saw 9,577 btc and 61,326 eth leave the exchange last month. Each of these assets is worth $595 million and $148.5 million, respectively. Its USDT reserves also fell by 3.16%, from $22.11 billion to $21.41 billion, an outflow of almost $700 million.
On the other hand, Binance recorded a 2.17% increase in its BNB (BNB) holdings, going from 40.7 million BNB to 41.5 million BNB in the mentioned period.
Binance's total crypto assets are worth more than $106 billion.
Binance is not the only one that has witnessed a decline in its digital asset reserves. According data provided by Coinglass, Kraken, Bitfinex and Bybit also saw 19,553 btc, 9,848 btc and 4,982 btc leave the platforms in the last 30 days, respectively.
Bithumb, however, recorded an inflow of 3,017 btc in the last 30 days, according to Coinglass.
According to a crypto.news report on October 3, Binance's market share fell to 2020 levels as its spot and derivatives trading volumes declined by 21% and 23% in September.
The exchange has a 27% share of the total spot trading volume and a 40% share of the derivatives market, according to the report.
Upbit and OKX also saw notable drops in their respective market shares, while crypto.com increased its share by 8%, reaching 10.5%.
