Stablecoin reserves on centralized exchanges have plummeted from $80 billion to $64 billion in just a few months, according to CryptoQuant. Binance now controls 68.5% of this available liquidity, up from around 60% at the end of 2025, despite suspending services in several EU countries. However, global stablecoin supply has only declined by 4.8%, falling from $316 billion to $301 billion, suggesting capital has left exchanges without necessarily leaving the crypto ecosystem. Binance also dominates spot trading with 38.7% of volume among the top 10 exchanges in Q2 2026, far ahead of Bybit at 10%. This growing concentration of liquidity on Binance comes amid more pronounced declines at Coinbase, Bybit, OKX, and smaller platforms.
Source: Read the original article
