The ERC20 stablecoin reserve index shows a decline in the amount of stablecoins held on centralized exchanges since the beginning of 2025. This suggests a tendency to keep these amounts in private wallets, or perhaps use them in decentralized finance (DeFi). Conversely, the continued decline in reserves, coupled with an increase in withdrawals, suggests a decline in interest in depositing funds into the market and purchasing directly. Looking at the net flow index, withdrawals have exceeded $1 billion on some days, suggesting that some individuals have withdrawn large amounts of stablecoins outside centralized exchanges without investing these funds in purchases within centralized exchanges.
Written by Arab Chain
