The second line in terms of stablecoins is occupied by the OKX exchange with reserves of $ 9 billion (13.5%of the market), it is followed by the BYBIT site with $ 4.2 billion (6.2%) and the American Coinbase exchange with $ 2.6 billion (5%).
“Binance retains the leadership of the stabelcoins market: by the end of August, its reserves have updated the record and reached $ 44.2 billion. 67% of all reserves accounted for the exchange USDT And USDC At centralized sites. Most of the funds are placed in USDT – $ 37.1 billion. However, the USDC returns position: now their volume on Binance is $ 7.1 billion, ”analysts said.
Since the beginning of the year, the reserves of stabilcoins on Binance have increased by 48%. Over the past 30 days, the site added $ 2.2 billion. OKX for the same time increased reserves by $ 800 million.
The increase in the volume of reserves of stablecoins on exchanges indicates the growth of liquidity and readiness of traders for active trade. A high level of reserves creates the conditions for the growth of crypto, as traders and investors have significant funds for the purchase of digital coins, they concluded in Cryptoquant.
Earlier, the co -founder of the Ethereum Vitalik Buterin called the spread of stablecoins an important factor for the growth of large altcoins and more massive use of cryptocurrencies as a payment agent.
Source: Bits
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