Binance Holds Major Share of Cryptocurrency Stablecoins

Binance has secured a commanding position in the stablecoin market, controlling over 59% of all reserves tracked among major exchanges. With $31.45 billion USDT and USDC, Binance surpassed its competitor OKX by more than three times. This dominance aligns with Binance’s high Bitcoin deposit volume, as during the recent surge above $111,900, it garnered an average of 7 BTC in deposits – exceeding other major exchanges like Coinbase and Kraken.