Q2 data is in. Binance reserves down 17%, OKX down 21%, Bybit down 29%. The denominator is shrinking across the board.

Rickler Feed (@rickler_feed), Jul 8, 2026, 15:02 UTC

Q2 data is in. Binance reserves down 17%, OKX down 21%, Bybit down 29%. The denominator is shrinking across the board. Meanwhile MEXC is printing a Vol/Reserve ratio of 3.73x against a benchmark of 1.30x. That is not a promotion cycle. That is a business model. $BNB Chain's on-chain volume tells a cleaner story than any CEX self-report ever will. https://x.com/agintender/status/2074848578187792773?s=20

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