Stablecoin cash flow splits: $2.06B onto exchanges vs $1.20B off, net +$862M

Gross stablecoin flow hit 1.10x the seven-day daily average, with USDT dominating both directions of a net-positive venue build-up.

The measured 24-hour window shows $2.06B in stablecoin deposits against $1.20B in withdrawals, leaving a net +$862.34M on tracked venues. USDT is the largest observed contributor at $1.26B in versus $712.63M out, meaning the single largest asset both feeds most of the inflow and accounts for the bulk of the offsetting outflow.

Activity ran at 1.10x the seven-day daily average of $2.96B, so this is a modest pace increase, not an extreme dislocation. The relationship worth watching is directional imbalance within elevated but not exceptional turnover: deposits exceed withdrawals, yet a large withdrawal leg persists alongside the inflow.

This is consistent with dry powder building on tracked venues, but the outbound leg suggests the build-up is being partly absorbed or recycled rather than accumulating cleanly. Whether the net cash remains deployed or rotates into risk assets is unresolved over the next 24 hours.