Binance Beats Huobi by Holding $1 BN Stable Coin


As of Mar 24, the top Cryptocurrency exchange platform Binance announced that it is holding more than $1 billion in ERC-20 stablecoins. This figure exceeds the Huobi’s holding, a Singapore based Cryptocurrency exchange. 

In just seven days the holding balance grew from $105,583,132 to $1,007,585,549, according to the report by global stable coin exchange balance by Nansen.

The Huobi exchange holds $694,327,505 stablecoin that is slightly more than half of the binance holding. This balance also grew in the last seven days by representing a growth of $165,823,720. 

Binance and Huobi are leading the spots of holding balance very clearly. Whereas Bitfinex, another crypto exchange drowns from $66 million and surfaces the balances to $58,997,388. The 4ht place was acquired by Bittrex by holding about $50,927,291.

Binance Dollars ( BUSD ) becomes the first to cross $100 million market cap. 

The market cap of BUSD ( Binance USD ) surpasses $100m for the first time. 

The USD backed stable coin developed by Binance and Paxos Trust Company in partnership grows to the highest market capitalization of all time. The stable coin surged to 400% from $22m to $115M. 

The new trade results are all-time high and thus making BUSD the highest volume and highest traded US-Backed Stable coin 

Binance’s CEO Changpeng Zhao said, “We are looking forward to seeing more utility through the power of stable digital assets and serving our part with BUSD, an NYDFS-approved USD-based stable coin.”

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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