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.