Binance has seen a rise in USDC popularity along with increased trading volumes on Base and Solana platforms.
USDC Activity on Binance
Binance became the largest market for USDC, reaching daily trading volumes over $24B in January. The exchange attracted over 49% of centralized trades for USDC. It offered nine major USDC pairs with USDC/USDT being the most active, achieving more than $1B in 24 hours.
Binance's Role in Boosting USDC Trading
After Binance's latest proof of reserves report, USDC emerged as the stablecoin with the highest reserves. The exchange holds 4.34B USDC with user deposits standing at 3.073B, offering a 141% excess ratio. Competitor platforms like Bybit also increased activity, holding around 30% of the USDC market according to a Kaiko report.
Stablecoin Market Changes in 2025
The stablecoin market is witnessing a shift toward stricter regulations, limiting listings against synthetic stablecoins. With USDC's supply reaching 56B tokens, there's a concurrent slowdown in USDT's growth. As trading directions change, pairs against USDT have dropped to 50% of total listings.
USDC's strengthening position on Binance and other platforms indicates ongoing shifts in stablecoin structures and trading activities, paving the way for a more regulated market by the end of 2025.
