Bybit Releases 40th Proof-of-Reserves Report Showing Higher BTC and ETH Holdings
Bybit has released its 40th proof-of-reserves report, showing increases in user holdings of Bitcoin and Ether alongside a sharp rise in USDe balances, according to data shared by Wu Blockchain.
The report is based on a Sept. 23 snapshot. User holdings stood at approximately 56,100 BTC, representing a 0.24% increase from Aug. 26. Ether holdings reached about 551,900 ETH, up 2.96% over the same period.
The latest disclosure provides a snapshot of assets held by Bybit users across the exchange's reported reserves and follows the platform's established proof-of-reserves reporting.
Bitcoin and Ether Holdings Increase
Bitcoin holdings increased modestly between the two reporting dates. Bybit's user BTC balance rose to approximately 56,100 BTC on Sept. 23, compared with the previous snapshot taken on Aug. 26.
The reported 0.24% increase indicates a relatively small change in Bitcoin balances over the period. Ether holdings recorded a larger percentage increase, rising 2.96% to approximately 551,900 ETH.
The figures represent user holdings at the respective snapshot dates rather than a measure of trading volume or the market value of assets held on the exchange.
USDT Holdings Decline as USDe Rises
The report also showed significant changes in stablecoin holdings.
USDT balances fell 11.46% to approximately $3.59 billion. By contrast, USDe holdings increased 62.41% to roughly $516 million.
The divergence marks the most pronounced percentage changes among the four assets highlighted in the report. While the amount of USDT held by users declined during the period covered, the reported USDe balance expanded substantially.
The figures do not by themselves establish why users' balances changed between the two snapshots. They provide a comparison of holdings recorded on Aug. 26 and Sept. 23.
40th Proof-of-Reserves Disclosure
Bybit's latest publication is its 40th proof-of-reserves report, extending the exchange's series of periodic disclosures on user asset holdings.
Proof-of-reserves reports provide asset-balance snapshots intended to show the cryptocurrency assets associated with customer holdings at a particular point in time. Because the latest report is based on a Sept. 23 snapshot, the figures represent balances recorded on that date rather than current holdings.
For the latest reporting period, Bitcoin and Ether balances moved higher, while USDT declined and USDe recorded a substantial increase. The next reporting snapshot will provide a further point of comparison for changes in these balances.
Writer: Victoria HaleTechnology & Blockchain WriterVictoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.She prioritises clarity and accuracy when explaining technical developments to a general audience.
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