Analyst: Binance stablecoin holdings fall 18.6%, inflows needed for stability

A sustained decline in Binance's stablecoin holdings is increasingly signaling a contraction in crypto market liquidity, according to an analysis by crypto analyst Darkfost on CryptoQuant. Darkfost noted that Binance, which holds approximately 64% of all stablecoin reserves on exchanges, has seen its holdings continuously decrease since Nov. 13, 2025. The exchange's reserves have fallen by 18.6%, or about $10 billion, from $50.9 billion to $41.4 billion, returning to levels last seen in October 2024. The analyst attributed this outflow to capital rotating into stocks and commodities, driven by the expansion of the AI industry and a rally in precious metals. Meanwhile, risk appetite for digital assets has been constrained by comments from Federal Reserve Governor Christopher Waller, who stated that the central bank could maintain its current interest rate policy if February employment data proves to be strong. Darkfost concluded that an inflow of stablecoins is necessary to restore market stability.