On-chain data shows the Binance Exchange Reserve has diverged between Bitcoin and the stablecoins. Here’s what this could mean for the market. Bitcoin & Stablecoin Exchange Reserves Have Decoupled On Binance In a CryptoQuant Quicktake post, an analyst has talked about the latest trend in the Binance Exchange Reserve for Bitcoin and the stablecoins. The “Exchange Reserve” here refers to an on-chain metric that keeps track of the total amount of a given asset that’s sitting on the wallets attached to a centralized exchange. When the value of this metric rises, it means the holders are making net deposits of the asset to the platform. Generally, investors use exchanges when they want to participate in trading activities, so them making inflows could signal appetite for trading the coin away. For cryptocurrencies like Bitcoin, this is something that can naturally have a bearish impact on the price. The same, however, isn’t true in the case of the stablecoins, as they are, by definition, always stable around the same value as the fiat currency that they are pegged to. Investors usually store their capital in the form of these tokens when they want to avoid the volatility associated with assets like Bitcoin. Many of them, however, plan to eventually return back to the volatile side. Once they have decided to make the switch, they transfer their stablecoins to exchanges. When they make the swap to a coin like Bitcoin, its price naturally observes a buying boost. As such, stablecoin inflows can be bullish for the volatile cryptocurrencies. Now, here is the chart shared by the analyst that shows the trend in the Exchange Reserve of Binance for Bitcoin and the stablecoins over the last couple of years: As displayed in the above graph, the Binance Exchange Reserve for the two asset classes showed some correlation in 2024. But by the end of the year, a shift had occurred, with the stablecoins witnessing sharp inflows and Bitcoin outflows. The two have remained decoupled in 2025 so far, although their trends no longer diverge as extremely. The stablecoin Binance exchange reserve has recently been trending sideways, while the one for Bitcoin has rapidly been moving down. Thus, it would appear that there is a large amount of fiat-tied tokens on the exchange potentially waiting to be deployed into the volatile side and at the same time, investors are also pulling out BTC supply, hinting at ongoing accumulation. This could hint at bullish conditions aligning on the largest cryptocurrency exchange, but it only remains to be seen whether the setup would reflect in the Bitcoin price or not. BTC Price Bitcoin is holding steady as its price is still trading around the $108,800 level.

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As the adoption of stablecoins slowly takes over, stewardship and proper regulation become a priority to maintain economic harmony. Bank of England (BOE) Governor Andrew Bailey seems to think the same. Bailey has cautioned that the adoption of digital currencies, including stablecoins, could upset the economic applecart if proper regulation isn’t implemented. Per remarks given during his speech at the Andrew Crockett Memorial Lecture on 3 July 2025, the nature of reserve currency has evolved. The monetary world has moved on from the earlier definition of a reserve currency as a fixed monetary anchor to an increasing reliance on secure, liquid assets such as the US Treasuries, and the central bank’s supply of liquidity as and when needed. “First, at least for the large economies, it could be asked today, what is the point of official reserves?” he said. Bank of England Governor Andrew Bailey says Stablecoins could cut people's trust in Money if they grow too popular. “They may be needed to support financial system liquidity in situations of extreme stress,” he said.https://t.co/7xPPVWTSXU #BoE #Stablecoins #Crypto — Budgetrend (@budgetrend) July 3, 2025 In addition to this, Bailey also put forth the notion of the changing role of reserve currency, explaining how it has moved from backing currency convertibility to preserving financial stability as capital circulates in and out of a country. Bailey cautioned, “Central banks need to carefully examine payment innovation based on stablecoins.” Bailey, soon to lead the Financial Stability Board, has previously flagged potential threats regarding stablecoins and plans to address them soon. Explore: Best Meme Coin ICOs to Invest in July 2025 Adoption of Stablecoins Could Cause Digital Dollarisation In the wake of the landmark legislation passed by the US Senate normalising the use of stablecoins, Bailey’s warnings come amidst growing concerns related to the wide adoption of the US dollar-backed stablecoin, which could cause digital dollarisation. A striking contrast to this is the US Treasury Secretary Scott Bessant, hailing the stablecoin legislation as a step towards cementing the dollar’s reserve currency status worldwide, amidst concerns regarding the erosion of trust in the greenback’s reserve currency status. “We need to watch carefully the evolution of payment forms and whether innovation here introduces fragility into what I would call the ‘money system,” said Bailey. He went on to point out during his lecture the need for authorities to carefully monitor any changes made to the structure of money, such as the introduction of privately issued stablecoins, that help mitigate any detrimental effects on monetary trust. “If, for instance, stablecoins emerge as a new form of money, we have to decide how to ensure the singleness of money and therefore trust in money in this world, and what role the notion of reserve currency should play here,” he said. He added, “The rise of stablecoins could raise questions about the purpose of official foreign reserves in major advanced economies today.” Explore: 10+ Crypto Tokens That Can Hit 1000x in 2025 “Central banks could face the heat if stablecoins become a widely used form of payment without proper regulations” Bailey mentioned that authorities should make efforts to clarify the role of reserve currencies since advancements in payment technologies might avoid traditional oversight. Some analysts are of the opinion that the adoption of stablecoins without global coordination could split the financial system. Without regulations in place, privately issued tokens might circulate outside central control, making it harder to manage economies and keep cross-border finance stable. Authorities are currently reviewing how stablecoins can remain reliable and legally compliant as questions arise regarding the inclusion of stablecoins into the financial monetary system or their existence outside of it. Explore: 9+ Best High-Risk, High-Reward Crypto to Buy in July 2025 Key Takeaways

• The role of a reserve currency has changed from backing currency convertibility to preserving financial stability


• Authorities should carefully monitor any changes made to the structure of money to mitigate any detrimental effects on monetary trust


• Some regulators think that stablecoins could potentially split the financial system

Swiss crypto-focused financial institution AMINA Bank announced providing custody and trading services for Ripple’s RLUSD stablecoin.  On 3 July 2025, the Swiss FINMA (Financial Market Supervisory Authority) regulated crypto bank said in a press release, “Custody and trading services will be available to AMINA clients holding RLUSD, establishing a foundation for expanded services in the coming months.” Commenting on the development, Myles Harrison, Chief Product Officer of AMINA Bank said, “We are proud to be the first bank to support RLUSD and to provide our clients with access to one of the most anticipated digital assets in the market.” JUST IN: SWISS-BASED AMINA BANK BECOMES THE FIRST GLOBAL BANK TO SUPPORT @RIPPLE’S NEW STABLECOIN $RLUSD – COINDESK BULLISH #XRP pic.twitter.com/E0eHFAaH7X — Amonyx (@amonbuy) July 3, 2025 “Ripple’s commitment to transparency and compliance make them ideal collaborators as we continue our mission to expand institutional-grade digital asset services,” Harrison added. DISCOVER: Best Meme Coin ICOs to Invest in Today AMINA is Targeting Institutional Clients, Professional Investors  Furthermore, AMINA intends to broaden its RLUSD-related services in the coming months. This reflects growing demand for digital assets in the financial sector. Importantly, Switzerland has long positioned itself as a global leader in crypto innovation, with Zug often being called “Crypto Valley.” AMINA Bank’s CEO commented, “Our goal is to bridge the gap between traditional banking and the emerging world of digital assets, providing our clients with secure, regulated access to innovative financial instruments.”  Hence, the bank pioneering the Ripple stablecoin could prompt other Swiss and international banks to follow the lead.  DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 Ripple Files for US Banking License for XRP and RLUSD Ripple is making power moves ➤ $XRP breaks multi-month downtrend ➤ $RLUSD backed by Amina Bank ➤ Ripple applies for U.S. bank charter XRP is becoming part of the U.S. banking system. pic.twitter.com/0AK9cdIb9F — ALexia (@Alex1i9) July 4, 2025 Notably, the company behind XRP has applied for a national banking charter in the US, aiming to bring its RLUSD stablecoin under direct federal oversight. This isn’t just about checking boxes. It’s a strategic attempt to give RLUSD a stronger foundation. It could also open the door to a deeper role in the financial system. If approved, the Ripple banking license would allow the company to hold RLUSD reserves directly with the Federal Reserve. Ripple’s CEO, Brad Garlinghouse, confirmed the application publicly, pointing out that RLUSD already operates under New York’s financial regulators. Getting a national charter through the Office of the Comptroller of the Currency (OCC) would expand that coverage, blending state-level approval with federal credibility. It’s also a signal to investors, regulators, and institutions that Ripple wants RLUSD to be taken seriously. Read more: Ripple Files for US Banking License for XRP and RLUSD Key Takeaways

Could this be China’s comeback in the crypto space after its ban a few years ago?

Data of the Bitcoin Stablecoin Supply Ratio suggests investors have stronger purchasing power today than during the previous bull rally. Bitcoin Stablecoin Supply Ratio Showing Neutral Purchasing Power In its latest weekly report, the on-chain analytics firm Glassnode has talked about the latest trend in the Stablecoin Supply Ratio (SSR) of Bitcoin. This indicator measures the ratio between the Bitcoin supply and the supply of stablecoins. Stablecoins are cryptocurrencies that have their price tied to a fiat currency. The SSR specifically measures the supply of the stablecoins tied to the US Dollar (USD). As for the role that these assets play in the sector, Glassnode explains: Stablecoins have become a critical component of the digital asset ecosystem, serving as the primary quote asset for trading across both centralized and decentralized venues. Functionally, they represent readily available capital, or “dry powder”, available for digital asset purchases. As such, the SSR compares the Bitcoin supply against this available dry powder. In other words, it tells us about how the cryptocurrency compares against the investor’s purchasing power. When the value of the metric is high, it means the BTC supply is high compared to the stablecoin supply. In other words, the trader’s purchasing power is weak. On the other hand, the indicator being low suggests there is high dry powder available relative to the BTC supply. In the context of the current discussion, the SSR itself isn’t of focus, but rather a modified indicator called the SSR Oscillator. According to the analytics firm, the metric measures “how the 200d SMA of the SSR moves within the Bollinger Bands BB(200, 2).” Now, here is a chart that shows the trend in the Bitcoin SSR Oscillator over the last few years: As displayed in the above graph, the Bitcoin SSR Oscillator has been close to the zero mark during the last couple of months, indicating the investor purchasing power is more or less neutral compared to the size of the BTC supply. From the chart, it’s visible that the trend was different during the rally beyond $100,000 that occurred late last year. Back then, the SSR Oscillator took on a highly positive value, suggesting the stablecoin supply was low relative to BTC. The cryptocurrency is currently also trading around the same levels as then, yet the SSR is showing a different story. “Despite similar price levels, this shift suggests that investor purchasing power has improved markedly, reflecting stronger underlying demand conditions,” notes the report. BTC Price At the time of writing, Bitcoin is trading around $109,500, up over 2% in the last seven days.

In recent developments, Turkey’s regulatory landscape for crypto assets has been undergoing a significant transformation after the nation’s Financial Crimes Investigation Board (MASAK) unveiled a new set of guidelines. Interestingly, popular crypto analyst and Turkish national, Burak Kesmeci, has weighed in on this new regime, sharing the implications of these regulations, from both a legal and user perspective. New Turkish Crypto Rules Add Hurdles For Traders, Boost Investor Protection – Analyst  On June 28, 2025, MASAK issued general communique No.29 which focuses on modifying the operations of virtual asset service providers with immediate effect as part of implementing Law No. 5549 on the Prevention of Laundering Proceeds of Crime. In an X post that follows shortly after this announcement, Kesmeci combines with lawyer Ahmed Karaca to explain the key provisions of the MASAK’s new crypto directive. For the market analyst, one of the most prominent changes is the addition of a mandatory waiting period for crypto transactions. Notably, first-time withdrawals from local exchanges now require a 72-hour hold, while subsequent transactions face a 48-hour delay. Kesmeci notes this measure is intended to combat money laundering and fraud by allowing for longer transaction time to detect suspicious activity. However, the analyst describes it as a “negative development” for traders impacting short-term trading activity on global exchanges. Another critical provision in MASAK’s new crypto regime is the introduction of transfer limits when moving funds from an exchange to a cold wallet. Kesmeci states these limits are set at $3,000–$6,000 per day and $50,000–$100,000 per month (or crypto equivalent). However, these transfer caps only apply to stablecoins transactions with investors free to move cryptocurrencies such as Bitcoin and Ethereum in whatever preferred amount. The Turkish analyst explains this is because the transfer limits references a 2021 regulation policy that focused solely on stablecoins. MASAK Presses For Exchange Transparency And Asset Safety Other changes introduced by MASAK is a transparency push that mandates all exchanges disclose new token listings to Turkey’s Public Disclosure Platform (KAP). Burak Kesmeci expresses excitement at this particular regulation as it becomes the first time crypto users gain insights into the process that produces an asset listing. Meanwhile, MASAK is also implementing a strict custody requirement whereby 95% of user funds must be stored with approved custodians, while only 5% is allowed to remain on exchanges. Kesmeci explains this requirement will be carefully monitored as exchanges must not exceed a 90%-10% limit as MASAK aims to prevent exchange collapse such as FTX and Thodex.