Binance Holds $1B in ERC-20 Stablecoins

Timor Invest
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Binance has more than $1 billion in ERC-20-based stablecoins as of March 24. This figure surpasses a milestone that quite far ahead of second-place Huobi.

Binance holds $1,007,585,549 of these stablecoins as of press time, a balance that has grown some $105,583,132 over the past seven days, according to the global stablecoin exchange balance by Nansen.

Huobi’s balance is slightly more than half that sum: $694,327,505. That figure represents a growth of $165,823,720 in the same seven days as Binance.

These companies are distinctly leading the pack in stablecoin balance. Third place Bitfinex fell from $66 million to hover around $58,997,388. Fourth-place Bittrex holds about$50,927,291.

Binance Dollar crossing the $100 million market cap

This news comes in the midst of Binance Dollar recently exceeding $100 million market cap, the first such stablecoin to do so, according to a March 10 report published by Cointelegraph.

At that time, 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.”