Binance, the largest crypto exchange by trading volumes, manages 59% of all Stablecoin reserves across centralized exchanges, according to on-chain data. This accounts for $314.5 billion from USDT and USDC alone. It holds $8.2 billion (15.39%), more than three times its closest competitor, OKX.
Stablecoin’s market capitalization has skyrocketed as its capitalization violated the $254 billion mark. Tether’s USDT is the largest Stablecoin with a market capitalization of over $153 billion, with USDC remaining in second place with a cap of over $61 billion.
The hype for Stablecoins is the launch of USD1, which was recently imposed in the dollar, even Donald Trump’s World Liberty Financial.
Binance brings the inflow of bitcoin up
According to the data, Binance dominates its central role in crypto liquidity, with Coinbase leading its total reserves at $129 billion. Binance stands in the second place of all reserves and holds $110 billion. The Coinbase and Binance combination hold 60% of the total reserves held across the top 20 crypto exchanges.
As of May, Binance had received $31 billion in USDT/USDC deposits. I was standing right in front of Coinbase’s $30 billion. The report said the largest crypto exchange by transaction volume has raised $180 billion in cumulative stability inflows. Meanwhile, Coinbase does not provide a public proof of proof (POR), but Binance offers a transparent POR report, which includes the wallet address.
Coinbase and Binance added that they bagged the largest cumulative inflow of USD in 2025. These figures were found to be $344 and $33.5 billion, respectively. However, Binance showed the highest average Bitcoin inflow.
On May 22nd, as Bitcoin hit its all-time high of over $111,900, the exchange saw the largest seven BTCs out of major exchanges, with an average BTC deposit size of 7 BTC.
Source: Cryptoquant
On the other side, the average deposits for major exchanges were low. Bitfinex accounted for 5, OKX at 1.23, with Kraken and Coinbase at under 1 btc.
Stablecoin Boom and politics clash
This surge comes as the US Senate heads for a final debate about genius acts. Stablecoin Bill could be the first major cryptography to pass through the Chamber of Commerce as it seeks to regulate the issuer of dollar peg tokens like USDT and USDC. However, it has already cleared the Banking Committee and has passed early floor tests with bipartisan support.
Some Democrats are beginning to link the bill to Donald Trump’s personal crypto venture. This includes USD1, one of the projects closely related to the President. Supported by World Liberty Financial, USD1 exploded in use.
Just 10 days after the Binance list, Stablecoin recorded more than $10.7 billion in transfers. Data shows that from May 22nd to June 1st, trading volumes skyrocketed beyond all previous records. On May 19th alone, 1,300% jumps were seen in relocation activities. It surged from $307 million to $4.3 billion, and by June 1st USD1 had already hit another $6.8 billion, setting a new weekly high.
That surge follows a rapid rise in market capitalization as USD1 entered the top six stubcoin in May, surpassing $2 billion. For lawmakers, this growth complicates the final steps of the genius law. Some people argue that legislation could benefit Trump-related ventures.
Discover more from Earlybirds Invest
Subscribe to get the latest posts sent to your email.
