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FollowingTether destroyed US$2.5 billion in USDT, and the balance of Binance Tron network dropped simultaneously.
According to CryptoQuant data, on July 7, Tether destroyed US$2.5 billion worth of USDTs on the Ethereum network, which is the largest single destruction since February 2026. On the same day, Binance\'s USDT balance on the Tron network fell to approximately US$806 million, the lowest level since December 29, 2025. The simultaneous changes in the liquidity of stablecoins have attracted market attention.
Ethereum destruction hits a five-month high
CryptoQuant pointed out that the July 7 deal reduced the USDT supply circulating on Ethereum by approximately 1.3%. The blockchain analysis agency said this was the largest single destruction recorded on Ethereum in the past five months.
However, analysts note that USDT destruction typically reflects pool management rather than permanent supply reductions. They explained that Tether typically destroys tokens when customers redeem or rebalance supply across blockchain networks.
Despite the destruction, USDT is still trading close to the $1 anchored level. This stability suggests that the operation was due to routine supply management rather than abnormal market conditions.
Binance Tron network holdings hit multi-month lows
At the same time, Binance\'s USDT balance on the wavefield network has fallen below the US$1 billion mark. According to CryptoQuant, the balance dropped to approximately $806 million. This figure is the lowest level of Tron Network USDT held by Binance since December 29, 2025. The wavefield network has historically been one of the main settlement networks for USDT transfer and exchange activities.
CryptoQuant said that the decline in balance has exceeded a much-watched liquidity threshold. However, existing blockchain data cannot determine whether this decrease in balance is due to customer withdrawals, cross-chain transfers or other fund pool adjustments.
Analysts track cross-chain stablecoin dynamics
CryptoQuant believes that the large-scale destruction of Ethereum and the tightening of liquidity in the Tron network occur simultaneously and deserves close attention. The analyst agency emphasized that the two incidents occurred on the same day.
Analysts added that large-scale USDT destruction is usually accompanied by fund pool operations and blockchain rebalancing. However, they pointed out that the decrease in Ethereum supply and the decline in Binance Tron network balance occurred simultaneously, and both occurred during the same reporting period, which attracted attention.
