Binance, one of the world's largest cryptocurrency exchanges, holds about $1B in stablecoins based on the ERC-20 standard.
According to the calculation of stablecoins stored by exchanges, as of March 24 Binance held a total of $1,007,585,549 in stablecoins, a figure that has been increased by $105,583,132 over the past 7 days.
The second exchange with more stablecoins is Huobi with $694,327,505, which has also registered an increase of $165,823,720 over the last 7 days.
The amount of stablecoins held by these two trading platforms is much higher than that of Bitfinex and Bittrex, which are in the third and fourth position with $58,997,388 and $50,927,291, respectively.
A stablecoin is a new class of cryptocurrencies that attempts to offer price stability and are backed by a reserve asset. Stablecoins have gained traction as they attempt to offer the best of both world’s—the instant processing and security or privacy of payments of cryptocurrencies, and the volatility-free stable valuations of fiat currencies.
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