Stablecoin demand is showing signs of weakening even as Bitcoin continues to trade above $60,000. New CryptoQuant data reveals that Binance has recorded nearly $7 billion in net stablecoin outflows so far in 2026, raising fresh concerns that trading liquidity is slowly leaving the crypto market.
CryptoQuant data shows that Binance, which holds around 70% of all exchange stablecoin reserves, has lost nearly $7 billion in net stablecoin inflows since the beginning of 2026. The latest monthly data also shows another $2.2 billion leaving the exchange.
The chart shows a clear change in market behavior. During 2024 and early 2025, Binance regularly recorded large stablecoin inflows, often followed by strong Bitcoin rallies.
However, throughout 2026, the chart has been dominated by red bars, showing that more stablecoins are leaving the exchange than entering.
According to CryptoQuant, this trend suggests traders are pulling liquidity out of exchanges instead of keeping funds ready to buy crypto.
The outflows do not necessarily mean all money is leaving crypto. Part of the capital is moving into yield-generating stablecoins and tokenized real-world assets (RWAs), including products such as BlackRock’s BUIDL and Circle’s USYC.
At the same time, Ethereum also recorded billions of dollars in USDT leaving its network this year as investors shifted funds toward other products.
Since stablecoins are widely used to purchase cryptocurrencies, lower exchange balances can reduce short-term trading activity and slow market momentum.
Despite the steady fall in stablecoin reserves, CryptoQuant analyst Darkfost believes Bitcoin is showing surprising strength. While less money is sitting on exchanges ready to buy crypto, Bitcoin has managed to stay above the $60,000 mark.
However, the short term picture remains uncertain. Bitcoin is currently trading around $62,934, down 2.79% over the past 24 hours and nearly 50% below its October 2025 peak of $126,000.
History also shows that August has usually been a weak month during U.S. midterm election years, with BTC falling 17.55% in 2014, 9.27% in 2018, and 13.88% in 2022.
Even so, Bitcoin is still trading well above the historical average for this stage of the cycle. While the past suggests there could be more downside, the current cycle remains stronger than previous ones, showing that buyers are still supporting the market.
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