Executive Summary
PSI holds BEDROCK at 95.5 for a 6th day, but 5 coins jumped to WATCH in one session and GYD collapsed to D-grade WARNING at 57. USDC sits $110M from its ATH.
PSI sits at 95.5, unchanged from yesterday and lodged in BEDROCK for a 6th consecutive day. But the DEWS board tells a different story: 5 coins migrated from CALM to WATCH in a single session, the largest single-day batch of upgrades in recent memory. crvUSD (pool balance drift), AUDD (liquidity erosion), EURm (cross-source divergence), BtcUSD (price confidence), and CUSD (mint/burn flow) all crossed the threshold, pushing WATCH count from 50 to 52 and trimming CALM by nothing because a WARNING materialized too.
Pressure Points. GYD's deterioration is the headline within the headline. Its safety grade collapsed from B to D in 48 hours, landing at 49, while its DEWS score hit WARNING at 57, driven by cross-source divergence at 100, liquidity erosion at 93, and pool balance drift at 93. At $26.56M market cap this is not systemic, but a coin flashing WARNING while PSI reads BEDROCK is the kind of contradiction that precedes interesting weeks. SUSD sits at ALERT with a score of 42 and a safety grade of F, its cross-source divergence pegged at 100.
Capital Currents. USDC added $2.16B in 7 days, nudging its market cap to $79.64B, just 0.1% below its all-time high of $79.75B set on April 11. USDS shed $96.61M in a day, accelerating against a $219.65M weekly decline. The Bank Run Gauge oscillated wildly, swinging from 23.1 to negative 0.6 in a day, but FTQ remains inactive. XAUT's yield spiked to 8.72% APY, nearly double its 7-day average of 4.85%, as gold-backed supply accelerated by $30.35M in 24 hours. Calm surfaces, restless depths.