Stablecoin withdrawals from centralized exchanges have slowed significantly, signaling a shift from capital flight to consolidation, according to data from CryptoQuant. Over the past month, net outflows totaled approximately $2 billion, compared with $8.4 billion during the early stages of the late-2025 bear market.
The moderation suggests that while market sentiment remains cautious, investor funds are not exiting the crypto ecosystem at the same pace. Analysts note that a sustained bullish reversal would likely require renewed reserve growth or deployment of capital into higher-risk assets.
Binance Dominates CEX Stablecoin Liquidity
Binance now holds $47.5 billion in combined reserves of Tether (USDT) and Circle’s USDC, representing 65% of all USDT and USDC held across centralized exchanges. The figure marks a 31% increase from $35.9 billion a year earlier.
Binance’s reserves are heavily concentrated in USDT, which accounts for $42.3 billion, while USDC holdings stand at $5.2 billion. Other major exchanges trail behind, with OKX holding roughly 13% of total reserves, followed by Coinbase at 8% and Bybit at 6%.
Bitcoin Price Outlook Remains Cautious
Despite easing outflows, CryptoQuant maintains that Bitcoin could still test lower levels. Analysts identify the realized price support near $55,000 as a potential bear market bottom. At the time of reporting, Bitcoin traded around $68,206, reflecting continued market uncertainty even as stablecoin liquidity concentrates on Binance.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.