Analysis: Stablecoin trading platforms’ net inflow ends their 113-day outflow streak, with liquidity signals shifting to neutral.

CryptoQuant analyst Axel Adler Jr. wrote in a post that the 30-day net flow of stablecoin trading platforms turned positive on September 1, the first time after 113 consecutive days of net outflows, signaling a change in the previously sustained stablecoin liquidity environment. The 30-day average net flow of ERC20 stablecoin trading platforms had stayed below zero from May 11 to August 31, amounting to 113 days of net outflows. On September 1, the metric hit $13.85 million, then dropped to $11.66 million on September 2 and $6.85 million on September 3, with the two-day net inflow falling by around 51%. At present, this should be seen more as a shift from sustained net outflows to a balanced liquidity environment, rather than confirmation of large-scale capital inflows. Meanwhile, Bitcoin’s Stablecoin Supply Ratio (SSR) is declining from its August peak. The SSR stood at 13.84 on September 1, and its 90-day, 200-day, and 365-day oscillators all remain positive, indicating that stablecoins’ relative purchasing power is improving but has not yet entered a clear expansion phase. Current market signals stay neutral. If stablecoin trading platform net inflows continue to expand and the SSR keeps falling, it could further confirm a liquidity reversal in the crypto market; if net flows fall back below zero, this improvement may only be a temporary shift.