Binance Soars as Stablecoin Inflows Reach $1.2 Billion Amid Exchange Decline

Binance received $1.235 billion worth of stablecoins on Monday, exceeding its average inflows over the last two months. According to CryptoQuant data, this significant influx diverged from the decline seen on other major exchanges.

The stablecoin flow, which increased with Bitcoin's rally from $62,000 to the $80,000 region, has now cooled down and returned to previous levels. This temporary surge was fueled by the rally, but it is weakening as activity accompanying the rise also subsides.

While Binance maintains its stable inflows, other platforms are experiencing a decline in liquidity flows. Coinbase has been particularly affected, with CryptoQuant reporting a downward trend in short-term stablecoin inflows.