CryptoQuant analyst Darkfost said Binance posted roughly $2.2 billion in net stablecoin outflows in July, adding to a year-to-date total of $7 billion. He also said Binance now holds 70% of the stablecoin supply sitting on exchanges, making the trend especially notable for broader market liquidity. In his view, the continued outflows point to shrinking demand that has not meaningfully reversed since the start of the year.
Darkfost argued that persistent stablecoin withdrawals suggest liquidity is leaving the crypto market rather than simply moving between trading platforms. He said investors appear more inclined to pull capital out than keep funds on exchanges for redeployment, a pattern he described as ongoing risk aversion. Even so, Bitcoin has remained above $60,000, which he said shows price resilience despite geopolitical and macroeconomic strains. He warned that the market needs to see demand return soon, or the pullback could continue.
CryptoQuant analyst Darkfost said Binance saw about $2.2 billion in net stablecoin outflows in July. He added that Binance currently accounts for 70% of the stablecoin supply held on exchanges.
Since the start of the year, Binance's cumulative net stablecoin outflows have reached $7 billion, according to Darkfost. He said the figure confirms a sharp contraction in demand that has not truly reversed.
Liquidity continues to leave the market
Darkfost said the sustained outflows show liquidity is leaving the crypto market. In his reading, investors are choosing to withdraw funds rather than leave capital in place for redeployment, signaling continued risk aversion instead of a simple shift of capital from one platform to another.
Bitcoin stays above $60,000
Despite ongoing liquidity drain, Bitcoin has remained above $60,000, which Darkfost said reflects price resilience under geopolitical and macroeconomic tension.
He also warned that the market needs to see demand recover soon, or the correction may continue.
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