Rei Researcher
Stablecoin Deposits on Binance Are Becoming More Active, but Not Truly Explosive Yet
Data from CryptoQuant shows that the number of ERC20 stablecoin deposit transactions into Binance is currently around 12K transactions, after several strong spikes appeared in July. This shows that stablecoin activity moving onto Binance is still being maintained, reflecting that some liquidity is returning to the exchange to prepare for trading or wait for buying opportunities. However, the current level has cooled down compared to the previous large spikes, so it is still too early to say that stablecoin inflows are clearly exploding again.