CryptoQuant: Binance stablecoin inflows hit record high of $10.20 billion in the past month

CryptoQuant analysts said Binance stablecoin inflows hit an all-time high of $10.20 billion in the past month. The surge shows a growing reliance on Binance for a range of trading activities, including buying bitcoin and counterfeit products, and participating in futures markets.
Analysts say stablecoins such as USDT and USDC are crucial for traders, serving as a stable bridge between fiat currencies and crypto assets. These funds are used for: cash market transactions: buying major assets such as bitcoin, ethereum and counterfeit products; futures transactions: stablecoins as collateral for margin positions; DeFi and Staking: capitalizing on yield generation opportunities in the Binance ecosystem.