Exchange-based stablecoin holdings on the Ethereum and Tron blockchains recently surpassed $70 billion. The previous all-time high, set during the 2021 bull market, was approximately $60 billion. After hovering around that level for much of the year, exchange stablecoin holdings began to rise sharply in August. Stablecoins on Exchanges: A Potential Buying Pressure According to a report published Thursday by CryptoQuant analyst ‘CryptoOnchain’, this metric represents a massive pool of potential buying pressure on exchanges
source: https://beincrypto.com/stablecoin-reserves-on-exchanges-soar-to-a-record-70-billion/