Key points: Binance absorbed $2.1 billion in stablecoin inflow, the largest among all exchanges. The total inflow of USDT and USDC reached $7.6 billion, indicating the Federal Reserve's previous positioning. Binance's enormous deposits averaged $214,000, the highest among major venues. Binance's open contracts increased by $166 million, driving long exposure in derivatives. Binance is at the center of liquidity buildup ahead of today's Federal Reserve interest rate decision, as cryptocurrency traders are flooding stablecoins into exchanges—with Binance leading the way. CryptoQuant data shows that the inflow of USDT and USDC to centralized platforms this week was $7.6 billion. Binance holds the largest share at $2.1 billion, followed closely by Coinbase at $1.6 billion. CryptoQuant research director Julio Moreno stated that the inflows indicate traders are storing liquidity at major venues until Federal Reserve Chairman Jerome Powell outlines the policy outlook. Binance dominates whale traffic; not only does it lead in total inflow, but its average whale deposit amount is also the highest. Binance: average trade of $214,000 Bitstamp: $181,000 Deribit: $166,000 [surge] marks a significant increase since July, when the average USDT deposit was $63,000. Binance's dominance indicates that institutions and large traders see it as the main gathering place for deploying capital. Derivatives market: Binance dominates again in the futures and derivatives market. The exchange's open contracts turned positive for the first time since September 13, with Binance seeing the largest increase in open contracts, reaching $166 million. This tilt comes from new long positions and short covering, indicating that if the Federal Reserve cuts rates as expected, traders are preparing for potential upside. Market outlook: If the Federal Reserve cuts rates by 25 basis points, billions of dollars parked at Binance and other exchanges could quickly turn into risk assets, exacerbating volatility. Unexpected policy stances could reset positions. This growth highlights Binance's role as a key liquidity center for traders responding to macro catalysts. As Moreno summarized, "The market hopes to buy the dip."
