CryptoQuant Warns Stablecoin Buying Power Has Yet to Return
CryptoQuant data shows stablecoin exchange reserves still falling, raising questions about crypto’s near-term liquidity outlook.
Stablecoin buying power has not returned at scale, according to new CryptoQuant data.
The analysis, published by Novaque Research, points to a mixed liquidity picture across exchanges. Net flows have turned slightly positive, but the broader trend still looks restrictive.
Reserve levels remain far below last year’s highs. The findings suggest crypto markets may still lack a strong capital cushion for future rallies.
Exchange Net Flow Shows Small Gains
ERC-20 stablecoin inflows to exchanges have edged into positive territory.
Net flow now sits near $62.8 million, CryptoQuant reported. That figure marks a shift from recent outflow periods. Still, it pales next to the multi-billion-dollar inflow waves seen earlier this cycle. Traders are watching for signs this trickle could grow.
Minting and redemption activity has also cooled. Both now sit close to $1.5 billion at the latest reading. That balance shows no clear expansion in overall stablecoin supply.
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