As the cryptocurrency market remains weak, an analysis says stablecoin outflows from centralised exchanges (CEX) are easing and capital is increasingly concentrating on Binance.

Crypto data analytics firm CryptoQuant said stablecoin market flows are showing a pattern of consolidation rather than outflows, Cointelegraph reported on Monday.

Stablecoin outflows on CEXs have fallen to $2 billion over the past month. That is sharply down from $8.4 billion recorded in the early stage of the bear market late in 2025. CryptoQuant marketing chief Nick Pito said, "Capital is gathering around Binance rather than leaving the cryptocurrency market." He said, "When holdings rise or are reinvested into risk assets, the likelihood of a shift to an uptrend increases."

Binance has lifted its holdings of Tether (USDT) and USD Coin (USDC) to $47.5 billion, accounting for 65 percent of total CEX stablecoin liquidity. That is up 31 percent from a year earlier. OKX, Coinbase and Bybit follow with 13 percent ($9.5 billion), 8 percent ($5.9 billion) and 6 percent ($4.0 billion), respectively, but the gap with Binance is large.

Most of Binance's stablecoin holdings are concentrated in USDT, which stands at $42.3 billion, up 36 percent from a year earlier. By contrast, its USDC holdings are $5.2 billion, showing little change.