
BUSD has seen 12 billion withdrawn from exchanges in 3 months, USDT, BTC have been net beneficiaries
BUSD has under 10 billion balance on exchanges โ while USDT has a stablecoin dominance of 55%, in addition to inflows for Bitcoin.
Quick Take
- The outflows for BUSD continue, which sees a balance on exchanges of less than 10 billion.
- The balance on exchange was as high as 22 billion on exchanges in November 2022 โ a trend expected to continue.
- USDT and Bitcoin have benefited the most from these outflows โ as USDT dominates at 55%, the highest since November 2021.
- While the Bitcoin stablecoin supply ratio suggests outflows of stablecoins have gone into Bitcoin โ its highest ratio for over two years.


