Binance BTC/USDT 24h Trading Volume Reaches $3.422 Billion, SAFU Conversion Scale Accounts for Approximately One-Third

BlockBeats News, January 30th, according to official data, in the past 24 hours on the Binance platform, the trading volume of the BTC/USDT trading pair reached 3.422 billion US dollars, showing that Bitcoin's trading activity continues to remain high.

Previously, Binance announced that it would gradually convert the existing $1 billion size of the SAFU Fund's stablecoin reserve into Bitcoin and plans to complete this transition within 30 days. Based on the current trading volume, the funds involved in this conversion are roughly equivalent to 34% of the past 24 hours' BTC/USDT trading volume.

Binance also stated that if Bitcoin price fluctuations cause the SAFU Fund's value to drop below $800 million, it will replenish BTC to restore the fund to a $1 billion size. The market is closely watching this move, as it may further strengthen Bitcoin's capital absorption and emotional support in the current volatile market.