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Ryan Moore 
Stablecoin flows are heating up, and Binance is leading the charge
It looks like Binance is having a massive year when it comes to stablecoins. The exchange has pulled in a jaw-dropping $180 billion in USDT and USDC deposits just in 2025 so far and we’re only halfway through. In May alone, it brought in $31 billion, slightly beating Coinbase’s $30 billion.
That small edge might not sound like much, but it’s a big deal. It shows Binance still has that gravitational pull in the crypto world, especially when it comes to stablecoin liquidity. Right now, it’s holding about $31 billion in USDT and USDC, nearly 60% of all stablecoin reserves across top exchanges. That’s not just dominant, it’s commanding.
Binance vs. Coinbase: A tight race at the top
When you look at total crypto reserves, Coinbase is still a bit ahead with $129 billion worth of BTC, ETH, and stablecoins. Binance isn’t far behind with $110 billion. Between the two of them, they control 60% of all reserves on the top 20 centralized exchanges. It’s like watching two titans go head-to-head.
But here’s where Binance stands out: transparency. Unlike Coinbase, Binance actually shares on-chain wallet addresses so people can verify what’s there. That kind of openness goes a long way, especially in a space that’s still rebuilding trust after years of drama.
Whales still love Binance the most
If you needed more proof that Binance is where the big money moves, just look at Bitcoin deposits. On May 22 the day BTC hit its all-time high of $112,000 Binance saw an average deposit of 7 BTC per user. That’s huge. Bitfinex wasn’t far behind with 5 BTC, but Coinbase, Kraken, and OKX were all under 1.3 BTC on average. Clearly, whales are making Binance their home base.
Stablecoins are growing way beyond just trading
It’s not just about exchanges anymore stablecoins are quietly becoming a major player in global payments. From January 2023 to February 2025, stablecoin transactions hit $94.2 billion across a wide range of services, from B2B payments to everyday shopping. That’s a big sign that this tech is going mainstream.
Tron, surprisingly, is leading the pack with about 60% of all stablecoin settlement volume. Ethereum, BNB Chain, and Polygon are holding their own, but Tron’s low fees and fast speeds are hard to beat for everyday transfers.
Binance is setting itself up to own the stablecoin future
There’s no sugarcoating it Binance is killing it right now when it comes to stablecoins. It’s not just dominating in numbers, it’s also showing strong user confidence and attracting serious players.
As stablecoins become more central to how value moves around the world in finance, payments, even gaming Binance is positioning itself right in the middle of that growth. If 2025 keeps going like this, Binance won’t just be the biggest exchange. It’ll be a cornerstone of the digital financial future.
