The volume of large stablecoin inflows of $1 million or more into Binance rose by more than 40% in a month, clearly pointing to an increase in market liquidity waiting on the sidelines.
The amount of stablecoins flowing into global cryptocurrency exchange Binance from large investors has surged by more than 40% over the past month, according to data. Analysts say this indicates that key players managing large sums in the cryptocurrency market are rapidly accumulating funds awaiting deployment.
According to aggregated on-chain data, the cumulative 30-day inflow of stablecoins deposited into Binance in amounts of $1 million or more rose sharply from $21.7 billion to $30.5 billion. This represents an increase of approximately 40.6%, showing that large whale investors are significantly strengthening liquidity on the exchange.
Stablecoins flowing into exchanges are generally regarded as direct liquidity waiting to be used to purchase crypto spot assets. Accordingly, the increase in inflows is being interpreted as a positive signal that could increase future spot buying pressure for Bitcoin and other major crypto assets.
However, whales are still analyzed as maintaining a cautious approach to deploying their funds. While expectations for seasonal market strength in October remain, geopolitical conflicts, inflation concerns and rising bond yields are said to be limiting aggressive capital deployment. In fact, compared with the $61.0 billion in cumulative 30-day inflows recorded in October last year, current inflows are considered relatively conservative.