A growing stablecoin supply usually hints at bullish deployment, but this time, the money stayed on the sidelines. TVL contraction and cautious on-chain activity suggest traders are waiting, not rotating.
Capital shifts to stablecoins as DeFi protocols bleed TVL
The market added billions in stablecoins, but DeFi TVL dropped, signaling that capital isn’t leaving crypto, it’s just parked.
3 min read
Updated: Jul. 25, 2025 at 2:41 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Ethereum is an open source smart contract platform and decentralized network that underpins a large share of the global crypto economy.
Bitcoin
$89,984.70
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Solana
$127.829
Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.
Arbitrum
$0.19088
Arbitrum is a type of technology known as an optimistic rollup.
Avalanche
$12.3655
Avalanche is an umbrella platform for launching decentralized finance (DeFi) applications, financial assets, trading and other services.
Hyperliquid
$24.7735
Hyperliquid is a high-performance Layer 1 blockchain designed to optimize decentralized finance (DeFi) applications.
Tether
$0.99967
Launched in 2014, Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner.
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