On December 11, Binance, the second-largest exchange by volume flows, hit its highest amount of stablecoins reserve reaching $31B.
Notably, Binance's stablecoin reserves were at just $7 billion in June 2023, marking a nearly fivefold increase since then.
An increase in stablecoin reserves typically signals that the buying pressure is growing.
With reserves remaining around the $30 billion level, it suggests that investors remain actively positioned in the market, potentially maintaining a strong buying pressure.
Written by Darkfost