Exchange Reserves Soar to Record $69 Billion

The largest deployable capital pool in cryptocurrency markets has been created by exchanges holding stablecoin reserves worth $69 billion. This represents approximately 22% of the entire stablecoin market and is a record high according to CryptoQuant contributor Crazzyblockk.

Binance alone holds $49 billion, or roughly 71% of all exchange-based stablecoin capital, making 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.

Despite $8 billion in stablecoins leaving exchanges during December, Binance still holds close to 15% of global stablecoin supply. On-chain activity dropped by about 40%, while whales accumulated around 20,000 BTC and futures open interest expanded by $2 billion.