Binance Dominates Volumes as Crypto Traders Pile Into Stablecoins During Market Correction: CryptoQuant
Crypto buying and selling exercise has slowed considerably in latest weeks as the broader market correction deepens, based on new information from CryptoQuant. At the identical time, Binance has emerged as the important thing focus of market flows, with merchants more and more shifting property onto the alternate through the downturn.
Daily spot buying and selling quantity, which reached nearly $100 billion on November 4, has since fallen to round $65 billion, reflecting lowered participation and cautious sentiment throughout main digital property.
The perpetual futures market has adopted the same trajectory. Perp buying and selling volumes peaked close to $360 billion on October 10, dipped to $298 billion on November 4, and have since slid additional to roughly $170 billion. The sustained decline exhibits decrease danger urge for food as merchants cut back leverage and look forward to clearer market course.
Binance Maintains Dominant Lead in Global Trading Activity
Despite the drop in total volumes, Binance continues to command a considerable share of worldwide buying and selling flows. Over the previous 24 hours, the alternate recorded $25 billion in spot quantity and $62 billion in perpetual futures quantity, extending its lead as the trade’s largest buying and selling venue.
By comparability, the next-largest exchanges stay far smaller in scale. Crypto.com posted $4.6 billion in spot market exercise, whereas OKX processed $36 billion in futures quantity—lower than two-thirds of Binance’s whole. The hole underscores Binance’s entrenched place as the first liquidity hub, even in periods of market stress.
Stablecoin Reserves Surge as Traders Seek Safety
While buying and selling volumes have contracted, stablecoin accumulation on exchanges has surged, pointing to defensive positioning amongst buyers. Combined USDT and USDC balances on Binance reached a document $51.1 billion on November 15, the best in its historical past.
OKX has additionally seen strong inflows, with its stablecoin reserves climbing towards $10 billion this month. The build-up displays a broad rotation into dollar-pegged property as merchants hedge in opposition to volatility, lock in earnings, or put together for opportunistic re-entry at cheaper price ranges.
Heightened Sell Pressure as BTC and ETH Inflows Spike
The worth of Bitcoin and Ethereum flowing into exchanges has risen sharply, signaling promoting stress through the correction. In the final week alone, whole BTC and ETH inflows reached $40 billion.
Binance as soon as once more captured the most important share, receiving $15 billion—greater than one-third of all major-asset inflows—whereas Coinbase recorded $11 billion. Other exchanges collectively absorbed round $14 billion, reinforcing the pattern of consolidation towards top-tier venues throughout turbulent market phases.
Altcoin Deposits Remain Elevated Despite Market Weakness
Notably, merchants have continued shifting altcoins onto exchanges. Daily altcoin deposits peaked at 77,000 on October 16, with Coinbase (26,000) and Binance (23,000) main the influx exercise. The elevated ranges recommend ongoing repositioning throughout the lengthy tail of property, even as market circumstances stay uneven.
Despite the downturn in buying and selling exercise, alternate information exhibits buyers are actively reallocating capital—shifting from danger to stability, and making ready for the subsequent decisive transfer in market momentum.
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