Binance sees $7B in stablecoin net outflows this year

Crypto analyst Darkfost said about $2.2 billion in stablecoins saw net outflows from Binance in July, bringing cumulative net outflows since the start of the year to $7 billion. Darkfost added that persistent stablecoin outflows suggest investors are pulling funds out of the market rather than reinvesting them, reflecting risk-off sentiment rather than transfers between exchanges. While BTC has remained resilient above $60,000, Darkfost said a recovery in stablecoin demand is needed for a broader market rebound.