According to Wu, CryptoQuant analyst Darkfost stated that, based on his statistics, the total market capitalization of stablecoins has fallen to approximately $263 billion, the lowest level in over a year, a decrease of $17 billion from approximately $280 billion in April, representing a drop of about 6%. Binance still accounts for about 70% of the stablecoin reserves held by centralized exchanges, but its stablecoin holdings have been declining over the past year, a trend further exacerbated by recent security incidents. Darkfost believes that the continued contraction in the stablecoin market capitalization reflects insufficient new funds and investment demand in the crypto market, and that a recovery in liquidity is a crucial condition for the market to sustain its rebound. https://www.(wublock123.com)/news/stablecoin-market-cap-hits-yearly-low-binance-reserves-fall-71240