The net inflow of stablecoins on Binance has turned positive, showing a clear change in market liquidity.

Analyst Darkpost stated that this exchange, which ranks first in global cryptocurrency trading volume, has shifted from a net outflow of stablecoins to a net inflow of $2.4 billion.

This reversal occurred after a period of large withdrawals, with $3.4 billion on December 11 and $6.7 billion on February 15.

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Binance liquidity recovery… Where are the traders?

Stablecoins are widely recognized as usable capital within the cryptocurrency ecosystem. The inflow to exchanges suggests that traders are preparing to enter positions. However, actual spot trading activity presents a completely different picture.

Research firm 10x Research pointed out that Binance's spot trading volume significantly decreased from $81 billion to $3.5 billion after early 2025.

This has caused a divergence. Despite investors moving stablecoins to exchanges, they are not actually converting capital into positions. In other words, liquidity is building up, but risk appetite is not following.

"Liquidity support is decreasing, and as a new gamma profile forms, a breakout in key ranges may trigger increased volatility and excessive price reactions. This is not a market to be complacent in, and low liquidation activity and weak trading volume are hiding inherent instability." – Analysts

This atmosphere has emerged amid increasing macroeconomic concerns regarding geopolitical tensions and the possibility of recession. The US-Israel war and Iran's involvement are shaking the market, causing oil prices to surge and putting pressure on the stock market.

"The cryptocurrency market is no exception, and while it has shown relative recovery over the past few weeks, it is still being affected." – Darkpost

The transition from large-scale outflow to net inflow suggests that capital is re-entering the market. However, until trading activity normalizes, the market shows a stronger sense of caution than certainty.

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