Centralized Exchanges Hold Record $69 Billion in Stablecoin Reserves
A record $69 billion in stablecoin reserves has been held on centralized exchanges, representing approximately 22% of the entire stablecoin market. This concentration of liquidity has intensified scrutiny over whether markets are positioned for a significant rally once investor sentiment shifts.
CryptoQuant contributor Crazzyblockk reported Dec. 29 that Binance alone holds $49 billion, or roughly 71% of all exchange-based stablecoin capital. This makes it the largest single pool of deployable funds in cryptocurrency markets. OKX follows with around $10 billion, while Bybit holds close to $3 billion, with the top three exchanges controlling about 94% of exchange stablecoin reserves.
In December data shows $8 billion in stablecoins left exchanges during the month, including $3 billion from Bybit and about $2 billion from Binance. Even after these outflows, Binance still holds close to 15% of global stablecoin supply.