CryptoQuant: Binance stablecoin reserves hit a new high of $31 billion, indicating that buying pressure is rising

CryptoQuant contributor Darkfost posted that Binance's stablecoin reserves reached an all-time high of $31 billion on December 11. Notably, Binance's stablecoin reserves were only $7 billion in June 2023 and have increased nearly fivefold since then. The increase in stablecoin reserves usually means that buying pressure is rising. The current reserves remain around $30 billion, indicating that investors are still actively active in the market and may continue to maintain strong buying pressure.