Over 75% of USDT Stablecoin Inflows to Binance Come from Whales Since November 2023, CryptoQuant Reports

On June 2, CryptoQuant analyst JA Maartun confirmed that over 75% of USDT stablecoin inflows to Binance originate from whale addresses. Data since November 2023 indicates that whales have consistently preferred Binance for their stablecoin deposits. This trend reflects the growing role of Binance in facilitating major market movements. This includes large Bitcoin buys and futures trading activity. Maartun further highlights Binance’s lead over other exchanges for whales’ large-scale stablecoin transfers on the Tron network (TRC-20). This insight adds to the mounting evidence positioning Binance at the centre of crypto liquidity and whale activity.

Stablecoin Outflows Indicate Changing Market Dynamics

Binance has experienced notable stablecoin outflows recently. In May 2025, stablecoin netflows on Binance surpassed negative $1 billion. This shift signals that traders and investors are moving substantial liquidity off the exchange. Such outflows often mark changes in trading strategies or portfolio reallocations. 

Source: CryptoQuant X Post On June 02, 2025

Stablecoin movements serve as a key liquidity gauge. The large withdrawals may reflect a cautious approach by traders amid market volatility. Still, Binance remains a preferred platform for initial deposits, especially by whales, underscoring its central role in the ecosystem.

Long-Term Holders Shrink Bitcoin Exposure

On-chain data shows a steep decline in Bitcoin exposure among long-term holders (LTH). The Net Position Realized Cap for these holders fell from over $28 billion to just $2 billion by late May 2025. This suggests that LTHs are reducing their Bitcoin positions despite recent price rallies. This sharp contraction contrasts with the behaviour of smaller investors who continue to accumulate. The data suggests LTHs are no longer driving this rally’s buying activity during this rally, reflecting a shift in market dynamics and possibly profit-taking or repositioning ahead of expected volatility.

Diverging Behaviour Across Wallet Sizes

Accumulation trends vary widely among different wallet cohorts. Entities holding between 1,000 and 10,000 BTC have gradually reduced their holdings while Bitcoin’s price rose from $81,000 to $110,000. These whales appear to be distributing their positions strategically through the rally. In contrast, smaller wallets holding 100 to 1,000 BTC are aggressively increasing their Bitcoin exposure. This retail cohort shows strong confidence, buying into the rally as prices hit new highs. Binance leads exchanges in handling deposits from both BTC and XRP whales, especially during periods of market turbulence, confirming its status as the preferred platform for large holders.

Whale Activity Signals Binance Market Volatility Ahead

CryptoQuant’s whale activity scores show recent sharp spikes on Binance. These scores track inflows and outflows of the top 10 whale wallets. Inflow surges may indicate distribution or strategic selling, while outflows often hint at accumulation or redeployment of capital. Such movements serve as early warnings for upcoming volatility. Alongside stablecoin flows and whale behavior, Binance continues to shape price discovery in the crypto market. The Spot Taker CVD metric, which measures buyer vs. seller volume, has turned positive, indicating renewed buying interest as Bitcoin approaches all-time highs. This mix of whale inflows and active buying sets the stage for possible further price increases if buying pressure sustains.

Whale Behaviour on Binance Shapes Short-Term Market Outlook

Binance’s dominance in whale-driven stablecoin inflows and Bitcoin deposits remains clear. Whales prefer Binance, reinforcing its importance in global crypto liquidity. The combination of large stablecoin transfers and diverging accumulation trends among wallet cohorts paints a complex market picture. Long-term holders reduce exposure, while smaller investors ramp up buying. Whale activity on Binance suggests careful positioning ahead of potential market moves. Continued monitoring of these on-chain indicators will prove crucial for understanding near-term price trends. The crypto market faces a phase of cautious optimism, driven largely by whale behavior centred around Binance.