Executive Summary
Ethereum lost $150.71M net while Arbitrum scraped $954K; the Bank Run Gauge flipped to -24 CAUTIOUS and apxUSD arrived at $10M with no baseline.
Ethereum lost $150.71M on net flows yesterday while Arbitrum scraped together $954K, against a Bank Run Gauge that flipped to -24 CAUTIOUS. apxUSD walked in at $10M with a 100 baseline reading, meaning there was no baseline. FDUSD and stcUSD each posted matching -100 reversals on roughly $3M of redemptions, the symmetry of two coins quietly being unwound on the same day.
PSI sits at 97.7, BEDROCK day 21, and 0.41% below the Digest-window ATH set five days ago. USDT closed $189.65B, fractions off its April 26 peak. Three depegs resolved inside the window: pmUSD touched 108 bps for nine hours, DOLA twice scraped 103 and 102 bps for an hour apiece. Eight others stayed open and none worsened, which is the most flattering thing you can say about a chronic list.
Forward-look: USDC's 4.23% APY against a 30-day average of 3.11% arrived with a tvl-outflow tag for a reason. If that spread holds while Ethereum keeps draining, the yield is buying flight, not deposits. Watch the Bank Run Gauge at the next snapshot: a second CAUTIOUS print turns today's $150M Ethereum outflow into a pattern instead of an accident.