Data: Over $1 billion in stablecoin outflows from Binance in 30 days, market buffering capacity declines

CryptoQuant posted on platform X that Binance's stablecoins are experiencing structural outflows. Over the past 30 days, USDC holdings have decreased from $5.75 billion to $4.6 billion, a drop of about 21.6%; USDT-ETH saw significant withdrawals of nearly $1 billion and $838 million on June 26 and July 7, respectively. Last week, Binance's stablecoin had an average daily net outflow of $115 million.

The report states that stablecoins are a key liquidity reserve for the market to absorb selling pressure, and simultaneous outflows typically indicate a conservative capital trend, with liquidity shifting towards cold wallets, DeFi protocols, or over-the-counter trading. The current environment is different from the previous phase where capital circulated among stablecoins, showing a simultaneous decoupling. After over $1 billion in liquidity has flowed out, the market's ability to buffer volatility is declining. CryptoQuant warns that if exchanges lack sufficient cash to cope with structural sell-offs, the market will be more sensitive to sudden fluctuations, and a sustainable bottom will require waiting for new inflows of stablecoin funds.