Monthly order flow: $2.13bn of net selling, 70% of it stablecoin rotation
Bitcoin (BTC)
Whalio's data for the 146 Binance spot markets shows takers were net sellers of $2.13bn in the month to 30 September 2026. The preceding month saw net selling of $741.4M. Turnover totalled $224.61bn compared with $157.72bn previously.
The headline figure reflects stablecoins more than it does crypto. Dollar-pegged pairs account for $1.41bn of that flow on $88.9bn of turnover, while gold-backed tokens account for a further $89.1M.
Excluding both, the remaining 138 markets were net sellers of $630.5M on $134.55bn of turnover. On the same basis, the previous month recorded +$697M.
Breadth: 137 of the 145 coins measured finished the month higher.
The markets attracting the most net buying were Ripple USD at $148.4M; Zcash at $122.1M against a price gain of 69.6%; Solana at $88M against a price gain of 14.61%; and NEAR Protocol at $40.1M against a price gain of 177.89%.
The markets experiencing the most net selling were USDC at $1.1bn; Bitcoin at $708.9M against a price gain of 6.42%; World Liberty Financial USD at $514.5M; and Ethereum at $178.9M against a price gain of 8.85%.
These figures relate to Binance spot markets only. Taker flow indicates which side crossed the spread, not money entering or leaving the asset class. The data does not capture futures, options, or trading away from this order book.
The measurements
Computed by Whalio from closed Binance spot candles. Every figure on this page can be reproduced from the same public exchange data; the method is on the methodology page.
Net flow is the sum of every trade that lifted an offer minus every trade that hit a bid, counted in dollars across the 146 Binance spot markets Whalio tracks. Stablecoin pairs are reported separately because flow there is one dollar token being rotated into another, which is not the same thing as risk being taken or cut.
The latest daily buy ratio of 46.7% sits at the 18th percentile of the last 322 days, against a median of 49.2% - weaker buying than most days.
For scale
What these measurements normally look like, so the figures above can be told from ordinary ones.
The same window a month earlier ran -$741.4M on $157.72bn of turnover, and +$697M once stablecoins and gold tokens are excluded.