Exchange Stablecoin Reserves Drop 20% as Bear Market Drains Liquidity

Stablecoin reserves parked on centralized exchanges have shrunk to roughly $64 billion, down about $16 billion from a late-2025 peak near $80 billion, CryptoQuant data shows. The drain leaves less idle capital sitting ready to buy. What remains has pooled into fewer venues, with Binance alone accounting for 68.5% of exchange stablecoin liquidity. Binance Absorbs