Stablecoins are often seen as dry powder in the crypto market, capital that can fuel Bitcoin and altcoin rallies. In June, the total market cap of stablecoins continued to break records.
However, inflows of stablecoins into centralized exchanges (CEXs) are showing signs of decline.
$70 Billion in USDT and USDC Flow Into CEXs Daily
Using data from CryptoQuant, analyst Axel Adler Jr. reported that in December 2024, when Bitcoin traded between $98,000 and $100,000, daily inflows of USDT and USDC into CEXs peaked at a record $131 billion.
By June 2025, this number had dropped to $70 billion daily. Although this represents a sharp 30% decline, the inflow volume remains significantly higher than from 2021 to 2024.
This shift could reflect more cautious investor sentiment. Bitcoin is trading near all-time highs, and global geopolitical tensions have introduced a layer of uncertainty. Despite that, the current stablecoin inflow is still massive, suggesting investors haven’t abandoned their bullish expectations.
“The decline reflects a natural cooling of excess bullish momentum, while BTC remaining above $100,000 signals that market participants are willing to maintain positions and limit selling. We are currently witnessing a phase of consolidation and base-building ahead of the next move,” Axel Adler Jr said.
Axel’s view hints at a sideways phase for Bitcoin, as the market waits for the next major move.
Short-Term Optimism as Binance Inflows Spike
Looking at short-term activity, analyst Amr Taha notes a recent resurgence in stablecoin inflows to Binance. He highlights that, during the second week of June, net stablecoin inflows to Binance exceeded $400 million on several days. That’s a significant jump compared to early May.
In addition, on June 16, Binance recorded a major Bitcoin net outflow, nearly 4,500 BTC withdrawn from the exchange in a single day.
By combining these two signals, Amr suggests that Bitcoin may be poised for a potential breakout.
“The aggressive Bitcoin withdrawals and concurrent stablecoin deposits create a supply-demand asymmetry. With fewer BTC available on exchanges and growing liquidity to fuel buys, the stage is set for a potential price breakout,” Amr Taha predicted.
Stablecoin Market Cap Reaches New Peak in June
According to DeFiLlama, the total stablecoin market cap surpassed $251 billion in June.
Tether (USDT) alone crossed $155 billion in market cap. Recently, Tether has been minting USDT at an accelerating pace. CryptoQuant analysis revealed that, so far in 2025, there have been 17 mints of over $1 billion USDT each on TRON (TRC-20).
With stablecoin capitalization climbing and exchange inflows remaining solid, investors seem to be waiting for a strong enough signal that might ease current concerns and trigger large-scale buying of Bitcoin and Altcoins.
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