Binance has experienced an increase in the usage of the regulated stablecoin USDC, with the platform becoming the largest market for USDC with weekly volumes exceeding $24 billion in January. The exchange holds 4.34 billion USDC with user deposits at 3.073 billion, providing excess reserves and boosting trading and liquidity. Bybit is also attracting a significant portion of USDC trading activity. The supply of USDC has expanded, particularly on Base and Solana, with the stablecoin adding 10.2 billion tokens to its supply in the past 30 days. This shift in stablecoin usage is occurring as more exchanges and brokerages drop USDT-based pairs and replace them with USDC-quoted pairs. The stablecoin market is expected to continue growing, with predictions anticipating a $400 billion stablecoin supply by the end of 2025.



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