Stablecoin Reserves on Binance have gone up over the past year, now reaching about $47.5 billion, according to CryptoQuant. That’s a massive share of the total liquidity that is on exchanges right now.
Source: CryptoQuant
While Binance’s reserves continued rising, other exchanges like OKX, Coinbase, and Bybit saw slower growth or remained mostly flat. This has allowed Binance to pull far ahead, now holding around 65% of all stablecoins available on exchanges.
Source: CryptoQuant
Short-term flows show ups and downs, but capital keeps returning to Binance after brief outflows.
Source: CryptoQuant
Most of this liquidity comes from Tether [USDT], with smaller contributions from Circle’s USD Coin [USDC].
Regulation could open doors
This didn’t happen at random or overnight. It’s taking place just as the U.S. prepares for a major overhaul that could influence the next phase of crypto big time.
Source: CryptoQuant
According to XWIN Research Japan, the total supply of ERC20 stablecoins has now crossed $150 billion, recovering since 2024 and nearing previous highs. Supply has climbed steadily into 2026, with capital entering the system… or at least keeping itself close by.
AMBCrypto previously reported that Japan has overtaken Singapore as APAC’s largest local stablecoin hub.
Yen-linked JPYC supply rose to about $26.4 million and helped most of the region’s rebound to nearly $60 million. While dollar-backed tokens still dominate, the regional demand for currency-specific stablecoins is evident.
The GENIUS Act, passed in 2025, is expected to fully roll out after the 2026 midterm elections, with clear rules for stablecoins. Rising stablecoin supply has often come before major market rallies, so perhaps good times are ahead.
Final Summary
- Investors are preparing early for the next crypto market cycle.
- Stablecoin regulation after the 2026 U.S. midterm elections could unlock the next big move.
