Stablecoin Liquidity on Exchanges Drops by $16 Billion: Binance’s Share Surges to 69%

CryptoQuant reported that stablecoin liquidity on exchanges has dropped from $80 billion to $64 billion, with Binance’s share rising from approximately 60% to 68.5%.

While the amount of stablecoins waiting to be traded on cryptocurrency exchanges decreased by $16 billion, the distribution of this liquidity across platforms has also shifted significantly. According to a post by CryptoQuant, Binance captured the largest share of the shrinking total liquidity.

Total stablecoin liquidity on exchanges fell by $16 billion to $64 billion. During the same period, Binance’s share rose from approximately 60% to 68.5%. This shift indicates that other exchanges experienced more severe losses and that the remaining liquidity in the market is concentrating around Binance.

Stablecoin Liquidity Concentrating on Binance

According to CryptoQuant’s distribution data by exchange, Binance holds approximately 68.94% of stablecoin reserves. Binance is followed by OKX with 10.89%, Coinbase Advanced with 7.07%, and Bybit with 6.34%. MEXC’s share stands at 2.73%, while Bitget’s share is at 1.22%.

CryptoQuant attributed this scenario to bear market conditions. According to the firm, a bear market not only reduces liquidity on exchanges but also causes the remaining amount to pool into fewer platforms. The data indicates that while total liquidity is shrinking, Binance’s dominance within the market is increasing.