[Stable Flow] Inflows to Solana and infrastructure, large-scale outflows from Ethereum and centralized exchanges

SOL-3,22%
ETH-3,87%
DEFI-3,54%
TRX0,89%

In the past 7 days, stablecoin supply has been flowing steadily, with large-scale outflows from centralized exchanges and Ethereum, as well as inflows into Solana and infrastructure sectors.

As of the 28th, according to Artemis data, the sector with the most significant recent 7-day stablecoin supply growth is infrastructure, confirming a net increase of $251.7 million.

Following that are asset management (net increase of $125.1 million) and gaming (net increase of $28.2 million), indicating a trend of stablecoin inflows driven by on-chain applications and operational purposes.

On the other hand, the sector with the most prominent supply reduction is centralized exchanges, recording a large-scale net outflow of $1.9 billion. Meanwhile, DeFi ($1 billion), payments ($292.3 million), market makers ($71.7 million), stablecoin issuers ($56.6 million), oracles ($41.3 million), and staking ($35.5 million) also confirmed supply contractions.

Overall, stablecoins are experiencing large-scale outflows from centralized exchanges and DeFi, while sectors like infrastructure, asset management, and gaming show limited net inflows. This is interpreted as a short-term trend where, as trading standby funds decrease, some capital is reallocating to operational and structural application fields.

Weekly stablecoin supply change chart by chain / Artemis

The blockchain with the most stablecoin supply growth is Solana, confirming a net increase of about $1.4 billion.

Following that are Tron (net increase of $1.1 billion), BNB Chain (net increase of $294.7 million), OP Mainnet (net increase of $48.5 million), Plasma (net increase of $43.6 million), with the overall trend of stablecoin inflow continuing on these major networks.

On the other hand, supply reductions on some chains are also notable. Base (net decrease of $39 million), Polygon PoS (net decrease of $107 million), Aptos (net decrease of $113.8 million), Arbitrum (net decrease of $237.4 million) all recorded net outflows.

Ethereum experienced a large-scale stablecoin supply contraction of up to $2.8 billion, capturing the most obvious trend of capital outflow.

Top stablecoin weekly net supply / Artemis

In the past 7 days, USD1 recorded a supply increase of about $1.5 billion, showing the strongest inflow momentum.

Following that are USDY (net increase of $397 million), USYC (net increase of $164.6 million), USDe (net increase of $104 million), PYUSD (net increase of $93.3 million), USDT (net increase of $49.1 million), JTRSY (net increase of $40.4 million), with supply continuing to grow.

On the other hand, OUSG and DAI experienced supply decreases of $80 million, while USDC recorded a massive net outflow of up to $2.6 billion.

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