Binance continues to lead in stablecoin reserves, attracting major inflows to derivative markets and ensuring high liquidity.
Increasing Stablecoin Reserves and Derivative Trading
In the last months of 2023, Binance saw a sharp increase in stablecoin inflows, boosting derivative markets. Despite a slowdown in growth during the first quarter of 2024, stablecoin reserves remained high. Their availability helps mitigate risks amid a general 30% downturn in the crypto market.
Stablecoin Trading Success on Binance
The total supply of stablecoins on exchanges reached 45 billion tokens of various types. Binance holds over 33 billion tokens, including USDT, USDC, and FDUSD. Daily trading volumes continue to be supported at $17 billion due to activity in derivative markets and support from BNB and stablecoin tokens.
Stablecoins on BNB Smart Chain
The decentralized Binance ecosystem holds over 7 billion stablecoins, both native and bridged from other networks. More than 53% of all stablecoins remain on the Ethereum network.
Binance's position as a leader in stablecoin reserves and trading underscores the importance of these assets for derivative markets and the exchange's overall liquidity.
