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Binance Stablecoin Reserve Reaches Record $51.1 Billion
CryptoQuant reports a record surge in stablecoin reserves on exchanges, reaching $51.1 billion, marking the highest level ever.
Binance Leads in Stablecoin Reserves
- Binance's stablecoin reserve reached $51.1 billion on Nov. 15, the highest recorded level. This includes assets like USDT and USDC.
- OKX ranks second with nearly $10 billion in stablecoin reserves as of November.
- In September, Binance's stablecoin holdings hit $45 billion, driven by ERC-20-based USDT surging to $32.6 billion.
BTC and ETH inflows into exchanges rose to $40 billion this week, led by Binance and Coinbase.
- Binance accounted for $15 billion of the BTC and ETH inflows.
- Coinbase received $11 billion, while other exchanges saw a total of $14 billion.
Stablecoin Adoption Increases
- McKinsey estimates stablecoin transactions have exceeded $27 trillion this year.
- Klarna launched its USD-pegged stablecoin, KlarnaUSD, on the Tempo blockchain.
- The Sui Foundation introduced USDsui, a native stablecoin aimed at retaining network transaction yields.