OKX exchange released The latest Proof of Reserve (PoR) report shows a decline in the amount of Ethereum held by users. According to the report, assets such as Bitcoin and Tether (USDT) increased significantly, while Ethereum decreased month-on-month.
Is Ethereum’s liquidity crisis coming?
In an effort to maintain transparency, OKX has released its 37th Proof of Reserve Report. The new normal for top crypto exchanges.
According to the PoR report, OKX users’ Bitcoin holdings reached 130,439 BTC, an increase of 3.15% from the 126,451 BTC recorded in September.
Similarly, the USDT reserve increased by 7.16% from 10,015,149,297 tokens in September to 10,731,848,196 USDT this month. According to the report, this figure has a variation of 716,690,899 USDT.
OKX has released its 37th Proof of Reserve (Snapshot from November 19th). User BTC holdings reached 130,000 BTC, an increase of 3.15% since October 8th (+3,988 BTC). ETH holdings decreased by 0.73% to 1.61 million ETH (-11,848 ETH). USDT holdings increased by 7.16% to 10.73 billion USDT (+717 million USDT). https://t.co/xrIKKIm7Ut pic.twitter.com/t76x1FO0rt
— Wu Blockchain (@WuBlockchain) November 29, 2025
However, Ethereum holders realized a shortfall of 11,848 ETH as the 1,622,674 ETH recorded in September decreased to 1,610,826 ETH this month.
Ethereum shortages can occur for various reasons. While OKX users are moving their assets to cold storage, ETH holders may also be converting to stablecoins.
In any case, the reality is that the amount of Ethereum on trading platforms is decreasing, and if this spreads to other trading platforms, it could result in net gains for ETH in the long run.
Good time for ETH liquidity crunch
The decreasing amount of Ethereum on OKX bodes well considering what’s to come. face upgrade December 3rd.
This update is billed to shift the paradigm to enhance user experience and scalability on the broader Ethereum network. Following past precedent, ETH price may rise after a significant upgrade, leading to increased demand for ETH. Ethereum It will rise even higher in the coming weeks.
If this prediction comes true and the current ETH outflows are sustained, the demand could cause the price of ETH to rise significantly.
At the time of writing, ETH was trading at $2,997, down 1.88% in 24 hours, according to data from CoinMarketCap. The $3,000 level forms the most important support and resistance, and holding this level could lead to changes in the price of ETH in the long run.