What happened? In less than half a year in 2025, over $180 billion flowed into Binance. Is something big coming?

Recently, I saw the latest statistics from CryptoQuant, and there is a set of data that is quite astonishing. In less than half a year in 2025, over $180 billion has flowed into Binance @binancezh.

On one hand, this certainly indicates an influx of new market funds; on the other hand, the overall market has actually been in a sideways state in the first half of the year. The external influx of funds flowing into Binance should not reach $180 billion. This may also reflect a reshuffling of traffic within the industry.

On one side, this may be related to Binance's proactivity. The landmark event here is the launch of Alpha and its subsequent upgraded version, Alpha 2.0, which effectively created a tiered system for Binance's trading ecosystem. This tiered system has grown very quickly under the ultimate support of Binance's traffic, bringing in many new cryptocurrency users (many originally non-crypto salaried workers joined to earn points). This significantly reset the previous logic of listing coins, shifting more value processes within the Binance ecosystem.

Of course, other industry events may have accelerated this process, especially after relevant risk events occurred at major exchanges like Bybit, which intensified the sentiment of risk aversion and accelerated the gathering of funds towards Binance.

We can also see clues from stablecoin data, which corroborate this. Currently, Binance's stablecoin reserves exceed half of the total amount for all exchanges, reaching nearly 60%. This indicates the combined effect of these two forces of attraction and repulsion. For the mindset of large market whales, this trend is even more pronounced. Another set of charts shows that the average Bitcoin deposit of whales on Binance currently reaches 7 BTC, significantly ahead of all mainstream exchanges: this also shows the strong trust of high-net-worth users and institutional investors in Binance, as well as their confidence in Binance's transparency.

To be honest, before the lawsuit in the U.S. concluded in 2022, I personally did not dare to put a large amount of virtual assets on Binance, but now my mindset is that apart from Binance and a few established exchanges like OKEx, I do not dare to place too much money on other second or third-tier exchanges. This is consistent with my previous viewpoint on whether Binance should pay a penalty for tweets. I believe Binance has not only protected itself but also eliminated a major risk for the industry, and now various data feedback shows that Binance has benefited from it.

A king should act according to the king's way, do the right thing, and take on the responsibilities that the industry should bear, rather than becoming a deserter, hiding behind the crowd in the name of 'The Wandering Earth,' and pushing retail investors as cannon fodder and shields to the front lines of risk.

I believe that Binance's current total stablecoin scale of over $31 billion and virtual asset reserve amount reaching $110 billion is the best vote of confidence.

Undoubtedly, Binance has now become the largest channel for 'new user acquisition' in the industry, continuously 'reinforcing' the crypto industry and Bitcoin's followers. At the entrance of the water flow, Binance's current liquidity is naturally unmatched. The influx of $180 billion is just the beginning; the potential user growth energy brought by Alpha 2.0 is still accumulating. Beneath the calm surface, the structure is being readjusted and solidified. Once the incremental accumulation breaks through the critical point, we can expect a new market trend to erupt like a volcanic eruption.