Executive Summary
USDC booked $319.98M of its $518M weekly gain in a single day, nearly the $400M rotation line; USYC shed $101.90M in the same session, dumping most of its weekly bleed at once. Cash in, yield out.
USDC added $518.48M over seven days to reach $74.19B, the market's largest weekly mover and, by Circle's own history, a trickle: it once minted $6.55B in a single week. The pace is the tell. USDC booked $319.98M of that total in the last 24 hours, meaning most of a slow week landed in one session, just shy of the $400M that marks rotation.
USDT tells the opposite story: +$33.74M in a day against +$1.17B for the week, its growth already spent. The rotation reads cleaner at USYC, which shed $101.90M yesterday, nearly all of its $147.14M weekly drawdown compressed into one session. Money leaves a yield-bearing treasury token for plain cash while PSI holds at 91.7, its 67th straight BEDROCK day.
The Bank Run Gauge clawed back to 35.9 [HEALTHY] from yesterday's -19.3, and apxUSD sits unchanged at 315 bps below peg, day 74 of its STRC-driven drawdown. Next trigger: USDC clearing $400M in a single day turns allocation into rotation, and USYC crossing $130M of one-day outflow would confirm the exit is a decision, not noise.