Binance stablecoin reserves drop to one-year low, draining crypto rally fuel

Binance's stablecoin reserves fell to $41.6 billion, a one-year low, after $6.3 billion exited the exchange since April. The outflow is market-wide, starving crypto rallies of fresh buying power. Bitcoin trades near $83,350, 4% below its September peak, while Ethereum has dropped 11% from its recent high. Total exchange stablecoin balances across Binance, Coinbase, OKX and Bybit have shed roughly $13.5 billion since April. Tether hovers near $183 billion, while USD Coin slipped from $78 billion to $72 billion, offering little offset to the liquidity squeeze.