Executive Summary
USDC accounted for $12.28M of the $19.00M that USDT and USDC shed in a day, against $1.83B on the week, while Ethereum logged +$952.71M of net mint/burn flow.
USDT and USDC shed a combined $19.00M of supply in the latest day, against $1.83B over seven days on the same velocity series. USDC accounted for nearly two-thirds of the daily figure, $12.28M against USDT's $6.72M, though USDT's weekly decline is larger at $991.84M against $836.40M. Two supply collectors, current readings and the prior-week baseline, are degraded, and none of these counts identifies who redeemed.
The 24-hour mint/burn feed points the other way. Ethereum logged +$952.71M of net flow across tracked coins, and the Bank Run Gauge rose to -1.6, NEUTRAL, from -15.5, valued on partial data with flight-to-quality inactive. That window differs from the supply series. CUSD and stcUSD each net burned $5.66M, at -100 against their 30-day baselines.
DEWS counts one coin in WARNING, against none yesterday, alongside 10 at ALERT; together they hold $218.74M of supply after 38 band changes in 24 hours. BRLV moved from CALM to ALERT at a score of 43 on $73.94M, led by liquidity erosion. pmUSD narrowed to 3,637 bps below peg at $0.636 from 3,663. Avalon's USDA is carried at its last stored peak of 3,098 bps, with no live price and no change.
On the market-cap series USDT stands at $182.44B, $950.93M lower on the week and 4% below its 26 April record of $189.76B. Fifteen blacklist events affected at least $2.11M in 24 hours, the largest $1.18M of USDT on Tron. If USDT's seven-day decline on the velocity series clears $1B, about $8M away, the contraction has follow-through despite the slower daily pace.