Sky (formerly MakerDAO) and Binance rank among the largest USDC holders, Arkham reports

Blockchain analytics firm Arkham states that Sky and crypto exchange Binance are among the biggest holders of USDC, a U.S. dollar-pegged stablecoin.

USDC

SKY

CORE

41d ago

Summary

Arkham, a blockchain analytics firm, reported that Sky (formerly MakerDAO), the decentralized finance platform behind the Maker ecosystem, and Binance, the global crypto exchange, are among the largest holders of USDC, a U.S. dollar-pegged stablecoin issued by Circle. The update points to concentrated stablecoin holdings among major crypto platforms and protocol-related entities, underscoring USDC’s role as core liquidity infrastructure across exchanges and decentralized finance.

Terms & Concepts

USDC: A U.S. dollar-pegged stablecoin designed to maintain a 1:1 value with the dollar and commonly used for trading, payments, and on-chain liquidity.
stablecoin: A type of cryptocurrency designed to track the value of another asset, most often a fiat currency such as the U.S. dollar.
DeFi (blockchain-based financial services): Crypto applications that provide services such as lending, borrowing, and trading through smart contracts (self-executing blockchain code) rather than traditional intermediaries.