Spike in stablecoin reserves on exchanges reaches $70 billion, a bullish signal?

Jakarta, Pintu News – Stablecoin holdings on exchanges based on the Ethereum and Tron blockchains recently hit a record high totaling more than $70 billion. This marks a new high after the previous record in 2021 during the bull market, which stood at around $60 billion. After stabilizing at that figure for most of the year, the number of stablecoins on exchanges began to rise sharply in August.

Stablecoins on the Exchange: Indicators of Buying Pressure

According to a report published by CryptoQuant analysts called ‘CryptoOnchain’, the large amount of stablecoins on exchanges indicates the potential for significant buying pressure. On September 2, this number briefly surpassed $70 billion and is now fluctuating around $68.3 billion.

The analyst noted a strong correlation between the amount of stablecoins on exchanges and the actual crypto price. At the end of October 2023, this amount bottomed out at $32 billion, but then more than doubled. During the same period, Bitcoin (BTC) price jumped about 3.3 times from its previous price of around $35,000, while Ethereum (ETH) price rose 2.5 times from $1,890.

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USDC’s Role in the Rally

Further analysis shows that Tether (USDT), as the stablecoin with the largest market capitalization, accounts for about $53 billion or 77% of the total holdings on exchanges. Meanwhile, USD Coin (USDC) accounted for about $14 billion or 20%. The significant growth of USDC has been a key factor, according to CryptoOnchain.

While USDT still maintains the top spot with steady growth, USDC deposits on exchanges have a strong correlation with the increase in the price of major cryptocurrencies. Indeed, with rising expectations of US interest rate cuts, USDC on exchanges surged from just $6.8 billion on August 1 to $14 billion in one month. In contrast, USDT holdings only changed slightly, from $52.6 billion to $53.1 billion over the same period.

Bullish Signals from Stablecoin Accumulation

CryptoOnchain describes the buildup of stablecoins on exchanges as a “very strong bullish signal”. According to it, this capital is ready to be deployed into assets like Bitcoin (BTC) and other altcoins, signaling that a strong rally may be imminent. With capital ready to be deployed, the opportunity for an increase in the value of the crypto market becomes greater, providing an opportunity for investors to capitalize on the situation.

Conclusion

With a deeper understanding of the market dynamics and influence of stablecoins, investors and market watchers can be better prepared to make investment decisions. An increase in the number of stablecoins on exchanges indicates not only greater confidence in these digital assets, but also the potential for significant price movements in the future.

Also Read: Mid-September XRP Price Outlook, Ready to Surge Again? Check out the Latest Analysis!

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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• BeInCrypto. Stablecoin Reserves on Exchanges Soar to a Record $70 Billion. Accessed on September 12, 2025