Stablecoin Reserves on Exchanges Hit Record $68B as Binance Commands 67%: CryptoQuant
Stablecoin reserves on centralized crypto exchanges have reached an all-time high, climbing to $68 billion in early September, accoridng to latest data from CryptoQuant.
This newest progress reveals the rising function of stablecoins in international crypto markets, offering each liquidity and a dependable bridge between fiat and digital belongings.
The surge additionally displays continued investor demand for stability amid risky market circumstances, as properly as the rising use of stablecoins in buying and selling, yield era, and cross-border settlements.
Binance Dominates Stablecoin Holdings
Leading the cost is Binance, whose reserves hit $44.2 billion by the top of August. This makes up 67% of all USDT and USDC reserves held throughout exchanges, studies CryptoQuant.
Of this whole, $37.1 billion is in Tether (USDT), whereas $7.1 billion is in USD Coin (USDC), marking a resurgence in USDC’s presence on the platform.
Binance’s dominance highlights its unmatched function as the worldwide hub for stablecoin liquidity, facilitating large buying and selling volumes and performing as a main gateway for digital asset flows.
Other Exchanges Show Flat Growth
In distinction, competing exchanges have seen comparatively stagnant stablecoin balances. OKX, the second-largest holder, presently maintains $9.0 billion in reserves, translating to a 14% market share.
Bybit follows with $4.2 billion (6%), and Coinbase holds $2.6 billion (4%). Despite their established positions, these platforms haven’t skilled significant development in 2025, suggesting that customers proceed to consolidate exercise on the biggest exchanges, notably Binance.
Binance and OKX Lead Recent Expansion
Over the previous 30 days, probably the most notable will increase in stablecoin liquidity occurred on Binance and OKX. Binance’s reserves swelled by $2.2 billion, whereas OKX added $800 million.
This acceleration demonstrates each exchanges’ means to draw merchants and capital, reinforcing their dominance within the sector. Meanwhile, Bybit and Coinbase’s reserves have remained largely flat, pointing to divergent methods and consumer preferences throughout completely different platforms.
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