Executive Summary
sUSDe's DEX liquidity score fell nine points to 52 while $60.44M of TVL held; a $1.54B pool repricing its depth before anyone exits is the tension tape in one line.
sUSDe's DEX liquidity score dropped nine points to 52, the steepest fall on the board, while its TVL barely moved, holding at $60.44M against a $1.54B market cap. A score that erodes without capital leaving is a confidence signal, not a capacity one, and depth tends to get repriced before money actually walks.
Split Board. The rest of the table leaned the other way. YLDS climbed from 53 to 61 as its TVL leapt from $8.40M to $57.23M, genuine capacity arriving; sUSDai reached 78, syrupUSDC 53. DEWS still counts 11 names at ALERT or worse, and BNUSD skipped WATCH entirely, going CALM to ALERT on cross-source divergence.
PSI eased to 93.8, its lowest in three days but 31 days into BEDROCK. The week's yield outliers are cooling, with USDC and USDS at their cool-down marks; apxUSD widened to 1536 bps on the unresolved STRC drawdown, and pmUSD holds critical at 3118 bps. If sUSDe's TVL chases its score down next session, the divergence becomes an exit; USDT toward 6.5% APY cools the last one.