Key Data Points:
Binance’s combined USDT and USDC balances reached $31 billion in June 2025, a record high.
Bitcoin dominance has steadily declined over the past 90 days.
The TOTAL2 market cap remains below key resistance at $1.25 trillion.
Stablecoin reserves on Binance reached a new high in June 2025, according to on-chain data compiled by CryptoQuant. The exchange now holds $31 billion in USDT and USDC, reflecting a significant increase in available capital on the platform.
The data shows that stablecoin inflows to Binance have continued to grow in 2025, even as Bitcoin reserves on the exchange declined. This trend marks a divergence from the pattern seen in 2023–2024, when Bitcoin and stablecoin reserves typically moved in correlation.
According to CryptoQuant, the increase in stablecoin holdings coincides with a broader market trend of declining Bitcoin dominance. Over the past 90 days, Bitcoin’s share of the total cryptocurrency market capitalization has gradually decreased. However, the shift has not yet translated into a broad recovery across altcoins.
The TOTAL2 chart, which tracks the total market capitalization of all cryptocurrencies excluding Bitcoin, remains below a resistance level of approximately $1.25 trillion. Multiple attempts to break this level in May and June were unsuccessful. The chart has formed a series of higher lows, with analysts noting the emergence of a potential cup-and-handle pattern.
In parallel, the global stablecoin market capitalization has surpassed $254 billion, led by USDT at $159 billion and USDC at $62 billion. These figures suggest continued demand for low-volatility crypto assets amid uncertain market conditions.
While broader altcoin momentum remains limited, the current trends in stablecoin reserves, Bitcoin dominance, and altcoin market structure are being monitored for potential developments in the second half of 2025.
