OKX’s Reserve Audit Highlights Shift from Bitcoin to Ethereum as Users Rebalance Portfolios

OKX's latest proof-of-reserves report reveals a significant trend of users rotating out of Bitcoin and into Ethereum, with BTC reserves dropping by $470 million while ETH holdings grew by $272 million in June. The exchange continues to maintain over 100% reserve coverage for all listed assets, demonstrating strong financial health despite the shifting asset allocations.

OKX's Reserve Report Shows Shift from Bitcoin to Ethereum Holdings

OKX's 32nd proof-of-reserves audit reveals a notable rotation in user assets, with Bitcoin outflows outpacing ethereum accumulation. The exchange maintains reserves exceeding 100% for all listed assets—including 105% coverage for BTC and 107% for Ethereum Classic—but June's data shows a $470 million reduction in Bitcoin holdings alongside a $272 million ETH influx.

Market participants appear to be reallocating from stablecoins as well, with USDT balances dropping 1.44%. The migration suggests either precautionary self-custody movements amid exchange security concerns or tactical portfolio adjustments following Bitcoin's recent volatility, which saw prices briefly dip before recovering to $105,000.

Pi Network Price Rises Amid Large Coin Withdrawals from OKX

Pi Coin has rebounded 2% today, attempting to breach the $0.50 resistance level after a prolonged slump since its May peak of $1.65. The MOVE follows a notable transaction where 2.8 million Pi coins were purchased and withdrawn from OKX, part of a broader 12-million-coin exodus from the exchange over three days.

Centralized exchanges currently hold 356 million Pi, with OKX accounting for 19.7 million. The timing is critical—July's scheduled unlock of 318 million Pi coins (valued at $160 million) threatens to flood the market, potentially depressing prices if demand falters.

Technical indicators show bulls defending $0.47 support, while bears continue to reject advances beyond the 20-day moving average at $0.56. The 50-day resistance at $0.66 remains a key hurdle for any sustained recovery.