CryptoQuant: Binance Stablecoin Reserves Hit a New High of $31 Billion, Indicating Rising Buying Pressure
ChainCatcher news, Darkfost, a contributor to CryptoQuant, posted that Binance's stablecoin reserves reached $31 billion on December 11, setting a new all-time high. It is worth noting that Binance's stablecoin reserves were only $7 billion in June 2023, and have since grown by nearly five times. The increase in stablecoin reserves usually indicates that buying pressure is on the rise. The current reserve level of around $30 billion suggests that investors remain actively engaged in the market and may maintain strong buying pressure.
