Binance Dominates Exchange Stablecoin Reserves at Record $69 Billion

Centralized exchanges are holding a record $69 billion in stablecoin reserves, according to data from CryptoQuant contributor Crazzyblockk. This represents approximately 22% of the entire stablecoin market.

The largest single pool of deployable funds is held by Binance, which accounts for around 71% of all exchange-based stablecoin capital, or $49 billion. OKX follows with around $10 billion, while Bybit holds close to $3 billion.

Crazzyblockk noted that on-chain activity dropped by about 40%, while whales accumulated around 20,000 BTC and futures open interest expanded by $2 billion in December.