Binance leads in stablecoin reserves. With $31 billion in USDT and USDC holdings, Binance holds the largest stablecoin reserves among all centralized exchanges, accounting for 59% of the total. This dominance underscores Binance's central role in crypto liquidity.
One of the largest reserve holders with unmatched transparency. Coinbase leads in total reserves with $129 billion, and Binance ranks second overall in total reserves, holding $110 billion across Bitcoin, ETH, USDT, and USDC—for a combined 60% of the total reserves across the top 20 exchanges. But unlike Coinbase, which does not provide a public Proof-of-Reserves (PoR), Binance offers transparent PoR reports, including wallet addresses. Binance's public PoR gives it an edge in terms of on-chain transparency and crypto-native credibility.
Binance continues to attract the largest stablecoin inflows. So far in May, Binance has received $31 billion in USDT/USDC deposits, slightly ahead of Coinbase’s $30 billion. In 2025 year-to-date, Binance has attracted $180 billion in cumulative stablecoin inflows—firmly establishing it as a top destination for capital deployment.
The two dominant players in overall crypto inflows. Coinbase and Binance have received the largest cumulative inflows in USD terms in 2025, $344 and $335 billion respectively, significantly ahead of other exchanges. These figures demonstrate the two exchange's continued importance for institutional and retail capital movement.
Binance continues to show the highest average Bitcoin inflow, implying that the exchange attracts large players. The average Bitcoin deposit to Binance spiked to 7 on May 22, when Bitcoin reached a new all-time high of $112K. Other major exchange's average deposit were lower at 5 (Bitfinex), 1.23 (OKX), 0.7 (Kraken), and 0.8 (Coinbase).
Written by CQ Research
