🎯The money hasn’t left—it’s just changed pockets

DefiLlama data: centralized exchange reserves shrank 10% in seven days, with Binance falling from 127B to 117B. Meanwhile, TVL in stablecoin protocols like USDe and USDT0 actually rose.

I sat there stunned for two seconds. What withdrew wasn’t money, but leverage—high-leverage positions ran first, while stablecoin protocols stayed put. This looks more like repositioning than a full-on exit.

🏷️ #稳定币 #DefiLlama #链上流动性 #USDe