According to CoinMeta, as reported by analyst Darkfost, Binance’s stablecoin reserves have dropped to $41.9 billion, marking the first time since October 2025 that they have fallen below the $42 billion mark. Currently, Binance accounts for over 70% of the total stablecoins in circulation, and these reserves have been continuously declining since November 2025. Darkfost pointed out that this decline reflects investors reducing their market exposure and withdrawing stablecoins from the platform, which coincides with weak demand, leading to Binance reducing its reserves due to insufficient demand. This development reflects the persistent pessimistic sentiment in the market, and for the trend to reverse, demand needs to rebound significantly.