The post How Binance’s $22B Stablecoin Inflows Powered Bitcoin’s Rally? appeared first on Coinpedia Fintech News
In March 2023, Binance’s share of the stablecoin market cap stood at just 4%. Now, it has grown to as high as 16.8%. Some believe that Binance’s stablecoin inflow played a crucial role in Bitcoin’s rally to the milestone of $100K. Let’s examine the scenario for better clarity. Ready?
Binance’s Record-Breaking Stablecoin Inflows
A crypto market analyst, identified as Darkfost, states that in the year 2024 alone, Binance reported at least $22 billion in stablecoin inflows. Explaining why the exchange stands out, he notes that on December 5, when OKX saw a $1.6 billion stablecoin netflow, Binance witnessed a netflow of at least $13 billion.
The Rise of Stablecoin Holdings on Binance
Another analyst, named joaowedson, highlights that Binance stores at least 16.8% of the total market cap of stablecoins. He mentions that since March 2023, Binan
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