Stablecoin Reserves on Exchanges Hit $68B While Supply Growth Slows

Stablecoin reserves on centralized exchanges have climbed to a new record of $68 billion, even as supply growth has slowed. The latest milestone, recorded on August 22, was driven by $53 billion in USDT holdings and $13 billion in USDC balances.

According to a report by the on-chain aggregator CryptoQuant, this marks a clear break from earlier records. The new total surpasses the previous peak of $59 billion set in February 2022, when BUSD had a larger role. Reserves have since more than doubled from their October 2023 low, boosted by a $28 billion increase after Donald Trump’s election victory.