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.