Executive Summary
XAUT's yield fell to 1.18% APY against a 4.95% 30-day average, and $15.29M of its $17.66M weekly outflow left in one session. USDC's +$782M week still sizes the tape; PSI 91.2 is the lowest since 30 August.
XAUT's quoted yield fell to 1.18% APY, against a 7-day average of 2.76% and a 30-day average of 4.95%, on $2.70B of market cap. The reading carries benchmark-degraded and negative-trend flags, so part of that decline is likely measurement rather than demand. Supply history is consistent with the direction: XAUT lost $15.29M in a single day out of $17.66M over the full week.
USDC's week. USDC added $781.92M over seven days to $74.34B, the largest weekly supply move on the tape, and gave back $105.15M of it in the latest session. That leaves the token 7% below its 11 April peak of $79.75B. Total stablecoin market cap is $319.33B, 0.12% under the Digest-window high set two days ago, with Ethereum taking $94.77M of net 24h flow.
Avalon's USDA is recorded 3,098 bps below peg on $145.58M of market cap, with no live price available and no material change since the previous edition. apxUSD trades at $0.968, 314 bps off, unresolved since the 2 June STRC drawdown took it to roughly $0.89. DEWS ALERT counts rose from 12 to 15, ALUSD crossing up from WATCH on cross-source divergence scored 99.
PSI printed 91.2 against 91.6 yesterday, the first time it has been this low since 30 August, with severity at 0.04 and the BEDROCK streak at 77 days. If USDC moves $135M or more in one day, daily flow stops being a rounding error against the $782M week. XAUT's next daily supply print decides whether one session carried the whole month's exit.