Binance Dominates 65% CEX Stablecoin Reserves Amid Slowed Outflows
Binance Captures 65% of Centralized Exchange Stablecoin Reserves as Outflows Moderate: CryptoQuant Analysis
Stablecoin outflows from centralized exchanges have significantly decelerated, even while CryptoQuant’s key metrics indicate persistent challenging market dynamics. This development suggests that investor funds are primarily consolidating within the cryptocurrency ecosystem rather than exiting entirely, according to insights from the prominent market data analytics firm.
Activity on centralized exchanges, commonly referred to as CEXs, has reached a state of equilibrium, with total outflows amounting to approximately $2 billion throughout the previous month. CryptoQuant shared this observation in a detailed statement provided to Cointelegraph on Tuesday.
This represents a stark contrast to the situation in late 2025, when exchanges experienced massive outflows exceeding $8.4 billion at the onset of the prevailing bear market phase. Such a comparison underscores the notable reduction in redemption pressures currently observed across the sector, as explained by Nick Pitto, CryptoQuant’s head of marketing, during his conversation with Cointelegraph.
“At this moment, capital is not fleeing the cryptocurrency space in a panic; instead, it is undergoing a process of consolidation, with a particular emphasis on Binance,” Pitto emphasized. He further noted that a genuinely bullish shift in market sentiment would only materialize once exchange reserves start expanding or when these funds are actively allocated toward higher-risk investment opportunities.
Binance Commands 65% Share of CEX Stablecoin Liquidity in USDT and USDC
Data from CryptoQuant reveals that Binance continues to serve as the central pillar for stablecoin liquidity on centralized platforms. The exchange currently maintains reserves valued at $47.5 billion in Tether’s USDT and Circle’s USDC, which stand as the two most substantial stablecoins in terms of overall market capitalization.
This substantial holding constitutes fully 65% of the aggregate USDT and USDC reserves across all centralized exchanges. Moreover, this figure marks a robust 31% increase compared to the $35.9 billion recorded one year prior, demonstrating Binance’s growing dominance in this critical area.
Source: CryptoQuant
Other prominent platforms, including OKX, Coinbase, and Bybit, trail considerably behind Binance in terms of stablecoin holdings. Among these competitors, OKX performs the strongest outside of Binance, securing 13% of the market with reserves totaling $9.5 billion.
Coinbase holds an 8% share, equivalent to $5.9 billion in reserves, while Bybit accounts for 6%, with approximately $4 billion under its control. This distribution highlights the significant lead that Binance maintains over its rivals in aggregating stablecoin liquidity.
Given Binance’s overwhelming control of stablecoin liquidity at a time when bear market-related outflows have tapered off, CryptoQuant has drawn a clear conclusion: “Investor capital is not departing the cryptocurrency market; rather, it is becoming increasingly concentrated on fewer platforms.”
USDT Drives the Bulk of Binance’s Stablecoin Reserves
Within Binance’s impressive stablecoin portfolio, USDT overwhelmingly predominates. The platform holds $42.3 billion in Tether’s USDT, dwarfing its $5.2 billion allocation to USDC.
Over the past year, Binance has expanded its USDT reserves by an impressive 36%, reflecting strong demand and sustained inflows for this particular stablecoin. In comparison, USDC holdings on the exchange have remained largely static, showing minimal fluctuation during the same timeframe.
Binance USDT and USDC reserves trends since January 2020. Source: CryptoQuant
Although the observed slowdown in stablecoin outflows points toward a phase of market stabilization and potential consolidation, CryptoQuant has issued a cautionary note regarding the near-term trajectory for Bitcoin. Analysts from the firm indicated last week that Bitcoin could experience additional downward pressure before establishing a definitive bottom.
CryptoQuant’s research team has consistently maintained that Bitcoin’s realized price support level hovers around $55,000, a threshold that has yet to undergo rigorous testing amid current conditions.
“In today’s market environment, Bitcoin’s definitive bear market bottom aligns closely with the $55,000 mark,” the firm stated unequivocally in their latest assessment.
As of the time of this publication, Bitcoin was quoted at $68,206, reflecting a modest decline of roughly 1.3% over the preceding 24-hour period, based on data sourced from CoinGecko.
