OKX has published its December Proof of Reserves (PoR) report. It is showing modest but steady growth across major user-held assets. The snapshot, dated December 11, marks the exchange’s 38th PoR disclosure and reflects rising balances in Bitcoin, Ether and Tether. Compared with the prior report in November.
Bitcoin Holdings Show Stable Growth
According to the disclosure, user Bitcoin holdings on OKX reached about 130,507 BTC in December. That figure represents an increase of 68 BTC. Or roughly 0.05% from the previous snapshot taken on November 19. While the growth rate remains small, the data suggests stability rather than withdrawals during a period of mixed market sentiment. Bitcoin balances on exchanges often decline during strong bull phases. As users move assets to self-custody.
OKX released its 38th Proof of Reserves (snapshot date: Dec. 11). User BTC holdings were about 130k BTC, up 0.05% from the previous snapshot on Nov. 19, an increase of 68 BTC; user ETH holdings were about 1.6452 million ETH, up 2.14%, an increase of 34,431 ETH; and user USDT… pic.twitter.com/KOysGkeyyB
— Wu Blockchain (@WuBlockchain) January 2, 2026
In contrast, flat or slightly rising balances usually point to consolidation and lower near-term trading pressure. OKX continues to report that its on-chain reserves fully cover user balances. This reinforces the purpose of the Proof of Reserves system introduced across the industry after the 2022 exchange failures.
Ether Balances Rise More Sharply
Ethereum recorded a larger increase than Bitcoin during the same period. User ETH holdings climbed to around 1.645 million ETH, up 34,431 ETH from the previous snapshot. That represents a growth rate of about 2.14%. The rise in ETH balances may reflect increased staking activity, portfolio rebalancing or users preparing for future onchain opportunities.
Ethereum often acts as a base asset for DeFi, NFTs and Layer-2 activity. This can lead users to park ETH on exchanges temporarily. Compared with Bitcoin, ETH balances tend to fluctuate more with ecosystem activity rather than pure price movements. The December increase suggests continued engagement despite year-end market caution.
USDT Growth Signals Rising Liquidity
The most notable change in the December report came from stablecoins. User-held USDT balances rose to approximately 11.19 billion USDT. That marks an increase of roughly 454 million USDT or 4.23%, in less than a month. Rising stablecoin balances often indicate capital sitting on the sidelines. Traders may be waiting for a clearer market direction before deploying funds.
As a result, large USDT inflows are sometimes interpreted as potential future liquidity. Rather than immediate buying pressure. OKX also reported a smaller increase in OKB holdings. With balances rising by about 1.08% over the same period.
Proof of Reserves Remains a Transparency Tool
OKX’s monthly Proof of Reserves reports form part of a broader industry push toward transparency. Each report allows users to verify that the exchange holds sufficient on-chain assets to back customer deposits. Although the December changes were incremental. The data paints a picture of steady user engagement rather than stress.
No major outflows appeared across key assets and stablecoin balances continued to build. As markets enter 2026, such reports will likely remain closely watched. They offer insight not only into exchange solvency. But also into broader investor positioning and liquidity trends across the crypto market.
