Binance is seeing an increase in potential buying liquidity as Bitcoin maintains price stability above $115,000. Data from the exchange’s Exchange Stablecoins Ratio (ESR) shows a decline in recent days.
This indicates that a significant amount of stablecoins remains on Binance and is ready to be deployed into the market.
Hidden Buying Power
As explained by CryptoQuant, the ESR is a closely watched indicator because it measures the balance between Bitcoin reserves and stablecoin reserves on exchanges, and hence, reflects traders’ purchasing power. The ratio fell sharply several days ago before attempting to rebound. It mirrored the volatile movement of stablecoin inflows and outflows.
Even with this turbulence, Bitcoin’s price has managed to remain steady, which points to strong demand and resilience among market participants. Analysts note that the ESR’s current low level could pave the way for a new wave of buying if traders choose to convert their stablecoin holdings into Bit
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