Daily Report on Token Chain Liquidity (Issue 18 · Week 30, 2026)

01Overview of Stablecoin Supply

July 25, 2026, serves as the data benchmark date. The stablecoin market exhibits clear signs of capital outflows alongside divergent trends in on-chain expansion. Binance recorded a net outflow of $920 million in USDT within 24 hours, indicating large-scale withdrawal of stablecoins from exchanges. Meanwhile, Circle initiated the minting process for 250 million USDC through the U.S. Treasury and completed its issuance on the Solana network. The total amount issued throughout the year exceeded $72 billion, underscoring the pivotal role of high-performance public blockchains in stablecoin settlements.

The prices of major stablecoins remained anchored: USDT was trading at $0.9991, USDC and DAI were both at $1.00, while FDUSD was at $0.9969. In terms of liquidity, USDT had a 24-hour trading volume of $42.7 billion, followed by USDC at $12.1 billion, giving it absolute dominance in the market. Samsung Wallet announced support for stablecoins such as USDC, aiming to build a unified digital asset ecosystem, marking the official entry of a mainstream consumer electronics brand into the stablecoin storage space.

On a macro level, the yield on 30-year U.S. Treasury bonds stayed above 5%, hitting a record high and intensifying concerns about tightening macro liquidity. The market sentiment index dropped to 43/100 (fear), with a total liquidation value of $287 million across the network in 24 hours, among which long-position liquidations accounted for nearly 80%. Although the regulatory bill, the CLARITY Act, is unlikely to be passed by August due to ongoing disagreements, the role of stablecoins as infrastructure in AI agent payments and RWA transactions continues to strengthen. The CEO of Coinbase stated that stablecoins are essential for transactions between machines.

02Flow of exchange stablecoins

On 2026-07-25, institutional funds showed significant divergence in terms of allocation and risk avoidance strategies. BlackRock transferred 3,126 BTC to Coinbase on 07-24, indicating that leading asset management firms remain committed to long-term holdings. However, some companies sold BTC to repay debts and shifted focus to AI-related businesses, resulting in structural differences in capital flows. In the realm of stablecoins, Circle initiated the issuance process for 250 million USDC through the U.S. Treasury on 07-24. Whale monitoring systems detected unusual activity on this chain, reflecting institutions’ efforts to expand their stablecoin reserves within regulatory frameworks. Meanwhile, Binance experienced a net outflow of $920 million in USDT on 07-24, signaling large-scale withdrawals of stablecoins from exchanges. This indicates that market funds are moving from centralized platforms to on-chain wallets or cold storage to reduce leverage exposure. Given that long positions accounted for nearly 80% of the $287 million in total liquidations across the network on 07-25, the withdrawal of funds from exchanges coincided with long-position deleveraging. Institutions tend to reduce their risk exposure during heightened volatility, while retail investors face pressure from forced liquidations.

03Changes in on-chain liquidity

There is currently no data available on DeFi TVL, making it impossible to quantify changes in total locked assets on the chain. The current price of USDT is $0.9991, with a liquidity score of 68; USDC is trading at $1.00, scoring 56 in liquidity; DAI has a price of $1.00 but a liquidity score of 33; FDUSD trades at $0.9969, with a liquidity score of 30. USDT’s liquidity metrics are significantly higher than those of other major stablecoins, reflecting its advantage in market depth. On July 24, 2026, Binance experienced a net outflow of $920 million in USDT, indicating that stablecoins are being withdrawn from centralized exchanges on a large scale. On the same day, Circle initiated a minting process for 250 million USDC, suggesting new liquidity demands from institutional investors. Exchanges such as HTX and Binance offer annualized yields of up to 10% for small-scale flexible savings in USDT/USDC, and these high returns encourage funds to remain in CEXs rather than DEXs. Without data on LP yields, trading pair depth, and arbitrage opportunities, it is difficult to assess the actual liquidity efficiency of DEXs.

04Operation suggestions

Operational Recommendations

• Liquidity Protection: Binance saw a 24-hour net outflow of $9.2B in USDT. If this trend continues, adopt a cautious approach this week and avoid using high leverage.
• Arbitrage Monitoring: Circle has minted 250 million USDC tokens. If the supply on the blockchain surges and the price deviates from $1.00, consider entering positions in phases over the next two weeks to take advantage of arbitrage opportunities.
• Return Optimization: Top exchanges offer annualized yields of up to 10% for small amounts of USDT/USDC. Transfer idle funds to flexible savings accounts this month.

Risk Warnings

• Security Alerts: Three bridges were attacked in a single day, resulting in losses exceeding $3550M. If you frequently conduct cross-chain transactions, suspend large-scale cross-chain operations temporarily.
• Compliance Risks: USDT on the TRON chain is often used for money laundering. Be vigilant about potential asset freezes if regulations become stricter.