Executive Summary
DEWS ALERT band climbed from 5 to 9 coins in 24h. ALUSD joined the elevated list, SUSD widened to 3252 bps below peg, and YLDS shed 86% of its DEX pool. Mid-cap exit capacity is thinning together.
The DEWS ALERT band climbed from 5 to 9 coins in 24 hours, nearly doubling overnight. ALUSD crossed WATCH to ALERT on cross-source divergence, joining pmUSD, UUSD, SUSD, and USDB on the elevated list. SUSD widened to 3252 bps below peg, a fresh 171 bps deeper into a 4737-hour chronic depeg, and ALUSD now sits 325 bps below par carrying an F safety score.
The liquidity layer corroborates. YLDS shed $45.45M of pool depth overnight, an 86% collapse on $504M of float, while bUSD0 dropped 17 points on the same float bracket. USDD's pool drained to $136K. Three mid-caps thinning their DEX exits on the same day is a pattern, not a coincidence, and none of them carry the kind of bid-of-last-resort the top names enjoy.
PSI holds at 96.1, day 58 of BEDROCK, while the Bank Run Gauge slid to -20.5 CAUTIOUS, its weakest print since the -53.3 reading on May 15. WTGXX absorbed +$958M for the week, the rotation absorbing what the mid-caps cannot retain. If the gauge breaks -30 or PSI prints 94, tomorrow's frame shifts from regime drift to active deterioration. Watch ALUSD's ALERT score next session; freshest entry on a doubled roster.