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Binance Received 78% of Net Exchange Inflows in May
- Binance accounted for 78% of all net inflows to centralized exchanges (CEXs) in May.
- Stablecoin inflows to exchanges reached $3.6 billion over seven days.
- WETH became the leading asset by deposits on Binance, reaching approximately $887 million MTD (month-to-date).
The crypto market is showing signs of a return to a risk-on phase amid growing capital flows into ETFs, stablecoins, and centralized exchanges. Binance attracted the largest share of these inflows, accounting for 78% of all net inflows to CEXs in May. This was reported by Incrypted, citing CoinDesk data.
Growth of capital flows into ETFs, stablecoins, and centralized exchanges. Data: CoinDesk.
A basket of major crypto assets, including Bitcoin, Ethereum, Solana, and BNB, rose 8.2% during the first 12 days of May. For comparison, the S&P 500 gained 2.4% over the same period, gold rose about 1.5%, while oil showed negative performance.
Binance Became the Main Hub for Exchange Flows
Total net inflows to centralized exchanges exceeded $3.3 billion in May. Binance accumulated 78% of that volume compared to its average share of 29% over the previous three months.
In addition, Binance accounted for 24.2% of global spot trading volume in April 2026. Monthly trading volume on the platform reached approximately $255 billion.
“This level of concentration reflects structural dominance rather than random capital inflows. […] Binance is not only the primary indicator of exchange flow direction but also a key infrastructure component of this market movement,” the press release stated.
Capital inflows into centralized exchanges. Data: CoinDesk.
Stablecoin Inflows Accelerated After Bitcoin’s Recovery
Positive stablecoin momentum resumed on May 3 after Bitcoin climbed back above the $79,000 level. By May 8, the market recorded the strongest seven-day stablecoin inflow of the current recovery cycle — approximately $3.6 billion.
Historically, stablecoin issuance has often accompanied market growth. This may indicate liquidity accumulation on exchanges ahead of further moves into risk assets.
Stablecoin inflows versus Bitcoin price performance. Data: CoinDesk.
WETH Became the Leading Deposit Asset on Binance
Among individual tokens, WETH recorded the largest net inflow on Binance, reaching approximately $887 million MTD.
This is likely linked to reduced risk exposure in the restaking sector following the KelpDAO incident in April. Some users may have exited rsETH positions and shifted their capital back into WETH.
Meanwhile, Bitcoin continued to post net outflows totaling around $400 million MTD. This may indicate that Bitcoin holders are not rushing to take profits at current price levels.
Dynamics of crypto asset inflows on Binance. Data: CoinDesk.
“Taken together, these flows indicate active portfolio repositioning, suggesting that traders remain engaged with the market rather than staying on the sidelines,” Binance concluded.
See also: "Gemini Shares Surge Following Strong Q1 Earnings Report"
