Binance wallets contain $1 billion worth of stablecoins

Over the past week, the volume of ERC-20 standard stablecoins on the wallets of the Binance cryptocurrency exchange increased by $105 million and exceeded $1 billion.

Nansen, a company that tracks stablecoins on cryptocurrency exchange wallets, reports that Binance holds the lead in terms of stable cryptocurrencies. In second place was Huobi — the total amount of stablecoins on the wallets of this platform reached $694 million. At the same time, the increase for the week was $165 million.

Interestingly, the volume of stablecoins on the accounts of other cryptocurrency exchanges is much smaller. Thus, the volume of tokens of this type on Bitfinex addresses amounted to $58.9 million, and a week ago the amount was higher — $66 million. In fourth place was Bittrex with a result of $50.9 million.

Interestingly, Binance CEO Changpeng Zhao (Changpeng Zhao) briefly commented
this fact:

“To infinity and beyond…”

Recently, it was reported that the capitalization of stable cryptocurrencies has grown significantly recently against the background of a fall in the cryptocurrency market and increased volatility. The capitalization of Binance BUSD’s own stablecoin exceeded
$100 million.