Stablecoin Outflows Surge Amid Liquidity Concerns

Recent data from Stablewatch reveals a concerning trend: stablecoins have experienced their largest outflows since the Terraform collapse in 2022. Over the past week alone, a staggering $1 billion has flowed out of these cryptocurrencies. Notably, Stream Finance’s xUSD suffered a substantial loss of $93 million, leading to its value dropping to zero. Coinshift’s csUSDL also faced a significant decline, with its total value locked plummeting by 95%, leaving just $1.92 million in reserves. Furthermore, Elixir’s stablecoins, deUSD and sdeUSD, are experiencing simultaneous liquidity challenges.