Stablecoin

More than 78% of Gemini dollars in existence are held in Huobi’s wallets

January 5, 2019, 2:57PM EDT

Approximately $70.8 million of Gemini dollar (GUSD), which represents 78.6% of the total supply, is currently stored in Huobi's wallets. In October, Huobi launched an all-in-one stablecoin wrapper called HUSD, which allows users to deposit any of TrueUSD, Paxos Standard, USD Coin and Gemini dollar and then withdraw any of them regardless of which one was deposited. Huobi has less than $7 million of the other three stablecoins combined, which could suggest that there is higher demand to withdraw non-GUSD stablecoins.