Binance Attracts Record $180 Billion in Stablecoin Deposits YTD, Solidifying Market Leadership
Binance continues to dominate the centralized crypto exchange landscape, attracting a record $180 billion in stablecoin deposits year-to-date (YTD) in 2025. New data reveals the platform holds approximately $31 billion in USDT and USDC, representing nearly 59% of the total stablecoin reserves across all centralized exchanges.
Stablecoin Inflows Cement Binance’s Liquidity Role
While Coinbase leads in total crypto reserves with $129 billion, Binance closely follows at $110 billion, according to CryptoQuant. However, when it comes to stablecoin inflows, Binance takes the lead — receiving $31 billion in May alone, slightly edging out Coinbase’s $30 billion.
Binance’s transparent Proof-of-Reserves (PoR), featuring verifiable on-chain wallet addresses, continues to enhance user trust — a contrast to Coinbase’s lack of wallet-level PoR disclosure. This transparency, combined with massive inflows, further positions Binance as the top venue for stablecoin-backed trading and capital allocation.
Institutional Confidence Evident in Whale Activity
Binance’s inflow profile also highlights its appeal to institutional and high-net-worth investors. On May 22 — the day Bitcoin hit a new all-time high at $112,000 — the average BTC deposit on Binance surged to 7 BTC, the highest among major exchanges. By comparison, Bitfinex averaged 5 BTC, while OKX, Kraken, and Coinbase averaged between 0.7 and 1.23 BTC.
Broader Stablecoin Adoption Continues
Outside of exchanges, stablecoin adoption is growing across the global payment ecosystem. From January 2023 to February 2025, stablecoin transaction volume reached $94.2 billion, according to Artemis. Tron led as the most-used settlement layer with 60% of that volume, followed by Ethereum, BSC, and Polygon.
This growth underscores stablecoins’ expanding role in cross-border payments, business transactions, and peer-to-peer remittances, as they increasingly become a core part of the digital financial infrastructure.
