Executive Summary
459 blacklist and destroy events touched $4.63M of USDT in 24 hours, and two Tron destroys carried $3.43M of it. USDC shed $79.24M in a day against a +$618.75M week.
USDT enforcement actions numbered 459 over the last 24 hours, affecting $4.63M, and the five largest all sat on Tron. Two destroy actions carried $2.30M and $1.13M between them, which leaves the other 457 events splitting roughly $1.2M, the biggest a $264.68K blacklist. Value concentrated in one issuer, one chain, and two transactions.
USDC moved the other way across horizons: down $79.24M in a single day against +$618.75M over seven, a reversal in velocity. It is still the largest weekly mover at +$446.58M to $74.31B, some 7% below the $79.75B set in April. RLUSD ran the opposite pressure, net -$15.70M in 24 hours at maximum negative intensity versus its 30-day baseline.
The Bank Run Gauge weakened to -10.8 from -1.8, back in CAUTIOUS, with no flight-to-quality flag, while Ethereum absorbed +$150.67M net. Peg stress remains chronic rather than fresh: apxUSD trades at $0.972, 277 bps below peg on day 86 of the dislocation that began with the STRC drawdown in June, and Avalon's USDA narrowed from 3,098 bps to 248 bps.
Index and triggers.
PSI at 91.9 extends the BEDROCK run to 79 days, and total market cap of $319.46B sits 0.08% under the Digest-window high set four days ago. DEWS ALERT+ names fell to 9 from 13, though BRL1 and BRLm both entered WATCH on liquidity erosion. Next trigger: a $100M single-day move in USDC supply, which would reclassify this week from drift to rotation.