Exchange Stablecoin Reserves Hit Record Highs but Growth Slows, According to CryptoQuant Analysis

According to the weekly report released by cryptocurrency on-chain analysis firm CryptoQuant, the total stablecoin reserves held by cryptocurrency exchanges reached a record $68 billion (approximately 9.9847 trillion yen) on August 22, surpassing the previous record of $59 billion (approximately 8.6632 trillion yen) set in February 2022. The record in 2022 was largely contributed by holdings in BUSD, but currently, the reserves are predominantly in USDT, which accounts for $53 billion (about 78%), with USDC making up $13 billion. The reserves held by exchanges have more than doubled since the low in October 2023, particularly following President Trump's victory...