On May 9, 2025, Binance has recently witnessed the largest stablecoin outflows among major cryptocurrency exchanges, with a net outflow of -272.67 million USD.
At the same time, Ethereum experienced a significant negative net flow from derivative exchanges, with over 183,000 ETH withdrawn for first time since March 20, 2025.
Together, these signals mark a significant shift in market behavior following Bitcoin’s recent rally.
Why do Stablecoin flows matter?
* Stablecoins act as a proxy for buying power within the crypto ecosystem.
* The influx of funds into exchanges often signals impending buying pressure, whereas substantial withdrawals indicate that traders are withdrawing capital from the market.
Ethereum Derivatives Data Strengthens the Narrative
derivative exchanges have recorded a sharp negative netflow of over 183,000 ETH.
With ETH surging from sub-$1,600 levels to over $2,400, many traders are likely securing profits and reducing exposure, especially after a high-volatility period.
Derivative platforms often reflect speculative positioning.
A mass withdrawal signals that traders are unwinding leverage, possibly due to market uncertainty or risk aversion.
Conclusion
Historically, large outflows from derivative exchanges have acted as bullish medium-term signals.
They often reduce selling pressure and speculative noise, creating room for healthier spot-driven growth.
However, if the outflows are not met with new stablecoin inflows into spot markets, there’s a risk of momentum stalling. Continued withdrawal without new buying capital could result in consolidation or short-term correction.
Written by Amr Taha
