Binance’s ETH reserve has reached its lowest level since 2024 as a stablecoin balance
TLDR:
Binance's ETH reserves fell to 3.3M ETH, down from both February and August 2024 historical lows.
Bitcoin reserves on Binance have decreased from 670,000 BTC in early February to 636,000 BTC in early April 2025.
The stock of USDT on Binance increased from $35 billion on March 12 to $38 billion on April 2, indicating an increase in dry powder.
USDC balances rose from $4.6 billion in February to $6.6 billion on April 2, increasing the overall stable coin's purchasing power.
Binance ETH reserves fell to their lowest level in over a year, falling below key historic lows. At the same time, the balances of the stable coin (Statcoin) on the exchange are constantly increasing.
On-chain data from CryptoQuant shows that these two opposing trends are reshaping the liquidity structure of the exchange.
The move points to increasing buying power among traders holding dollar-denominated assets to ease side-by-side selling pressure.
ETH and BTC reserves record significant reductions on Binance
According to CryptoQuant analyst Amr Taha, Binance's Ethereum reserves fell to 3.3 million ETH. This level is below the February 2024 low of 3.53 million ETH and the August 29, 2024 low of 3.49 million ETH. A break below both historical support levels indicates a clear downward trend in ETH holdings.
Bitcoin inventory on Binance has also dropped in recent weeks. The BTC balance decreased from approximately 670,000 BTC in early February to 636,000 BTC in early April. That drop reflects the same pattern of reduced supply of crypto assets sitting on exchanges.
As fewer coins land on an exchange, the available sell-side supply tends to decrease. This change usually reduces the immediate pressure that sellers exert on spot prices during market activity.
Increasing Stablecoin reserves indicate growing purchasing power
As crypto stocks tumbled, the stablecoin on Binance moved in the opposite direction. USDT reserves increased from $35 billion on March 12 to $38 billion on April 2. USDC reserves rose to $6.6 billion in the same period from $4.6 billion in February.
Taha said in his analysis: “If this trend continues, it could create a more supportive environment for price expansion.” The combined growth in the USDT and USDC scales reflects the dry powder inventory sitting on the exchange.
It is a familiar market structure among experienced traders that when crypto stocks fall, stablecoin stocks rise. It indicates that capital has been diverted from variable assets and dollar-denominated holdings without fully leaving the exchange.
Whether buyers begin to deploy those stable coin balances into the spot markets will remain a key variable to watch in the coming weeks.
