Stablecoin balances on major exchanges fall 20% from 2025 peak

Stablecoin balances held by major centralized exchanges have fallen about 20% to around $64 billion from a peak of roughly $80 billion at the end of 2025, BeInCrypto reported. The report said this points to a decline in sidelined buying power while accelerating liquidity fragmentation and concentration, with the remaining liquidity increasingly flowing to large exchanges. Binance’s share of exchange-held stablecoins rose to 68.5% from the low-60% range at the end of 2025.