Capital rotates to Ethereum – Binance’s $3.6B haul shows where bets lie

Key Takeaways 

What triggered the latest stablecoin inflows?

Rising market optimism and dip-buying pushed $6.6B in stablecoin deposits, led by Binance’s $3.6B inflow.

Which tokens stand to benefit?

Myx Finance [MYX], Aster Network [ASTER], and Humanity Protocol [H] outperformed peers.

The crypto market began recovering after a sharp mid-October sell-off. Total market capitalization rebounded from $3.54 trillion to $3.85 trillion within a week.

Rising Stablecoin Reserves suggest that more upside could be ahead as traders reload exchange balances for potential accumulation.

Binance leads stablecoin inflows

In the past 30 days, stablecoin inflows surged significantly, reaching $6.58 billion.

Data from CryptoQuant confirmed that this is the second-largest inflow of the year, trailing only the $7.23 billion recorded on the 4th of February.

Investors funneled most of this capital into centralized exchanges, with Binance receiving the largest share at $3.63 billion and Bybit following with $1.30 billion.

Source: CryptoQuant

The timing of this inflow coincided with the market-wide decline that began around the 10th of October.

Crypto analyst Maartunn noted that the surge in stablecoin deposits may reflect renewed “buy-the-dip” sentiment among traders, positioning capital on exchanges for potential accumulation.

The recent rise in inflows led by Binance could also be linked to the outperformance of altcoins listed on the exchange.

CryptoQuant confirmed this trend, noting that altcoins listed on Binance Futures over the past 90 days have outperformed those on other platforms.

Where stablecoins are flowing

AMBCrypto’s earlier analysis showed that the stablecoin market has entered a stabilization phase and may be gearing up for a broader rally.

According to the report, there’s a high probability that a full altseason could recover if the Altcoin Season Index continues to rise and Bitcoin [BTC] dominance declines.

Source: Lookonchain

Lookonchain data revealed that the Ethereum [ETH] network captured the majority of new stablecoin liquidity — around $1.24 billion in seven days.

TRON [TRX] followed with $477 million, while Avalanche [AVAX] attracted $114 million.

At the same time, Solana [SOL] and Plasma [XPL] recorded outflows of $470 million and $501 million, respectively, showing capital rotation away from non-EVM chains.

Which altcoins could rally next

According to CoinMarketCap’s 90-day data, ERC-20 compatible tokens have led the recovery. They include Myx Finance [MYX], Aster [ASTER], and Humanity Protocol [H].

These tokens have significantly outperformed the broader market in the last 90 days. For instance, MYX surged by over 2,400%, ASTR gained 1,160%, and H rose by roughly 570%.

Source: CoinMarketCap

This trend could likely extend to other ERC-20 tokens, especially those with strong utility and active community interest.