Binance Dominates Shrinking Stablecoin Reserves Amid Bear Market

Stablecoin reserves parked on centralized exchanges have plummeted to $64 billion, down from a peak of nearly $80 billion in late 2025.

This represents a 20% decline and leaves less idle capital available for buying pressure or funding the next leg higher.

Binance has absorbed the majority of this shrinking liquidity pool, accounting for 68.5% of exchange stablecoin reserves, while Coinbase, Bybit, OKX, and smaller venues have seen their balances contract sharply.