CryptoQuant analyst Darkfost said Binance posted roughly $2.2 billion in net stablecoin outflows in July, while the exchange now holds 70% of the stablecoin supply sitting on trading platforms. Since the start of the year, Binance has recorded cumulative net stablecoin outflows of $7 billion, a pattern the analyst said confirms a sharp contraction in demand that has not meaningfully reversed.
According to Darkfost, the continued drain in stablecoins suggests liquidity is leaving the crypto market. In his view, investors are choosing to withdraw capital instead of keeping funds on the exchange for redeployment, pointing to ongoing risk aversion rather than a simple shift of capital between platforms. He added that even as liquidity keeps drying up, Bitcoin has remained above $60,000, showing price resilience against a backdrop of geopolitical and macroeconomic strain. Darkfost warned that the market needs to see demand recover soon, or the pullback could continue.
ChainCatcher reported that CryptoQuant analyst Darkfost said Binance recorded about $2.2 billion in net stablecoin outflows in July. He added that Binance currently accounts for 70% of the stablecoin supply held across exchanges.
Darkfost wrote that cumulative net stablecoin outflows from Binance have reached $7 billion since the start of the year, which he said confirms a sharp contraction in demand that has never truly reversed.
He said the persistent outflows show liquidity is leaving the crypto market. Investors, in his view, are more inclined to withdraw funds than wait to redeploy them, reflecting continued risk aversion rather than a simple rotation of capital between platforms.
Even with liquidity continuing to dry up, Bitcoin has stayed above $60,000. Darkfost said that points to price resilience under geopolitical and macroeconomic tensions.
He also warned that the market needs to see demand recover soon, or the correction may continue.
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