Data from blockchain analytics firm Nansen reveals a sharp reversal in stablecoin trends as exchange balances fall below $62B.
According to on-chain data from Nansen, March saw a healthy inflow of stablecoins across major cryptocurrency exchanges. The inflows often matched or exceeded outflows, helping exchange balances hover in a stable range of $66 billion to $67 billion. This pattern indicated that investors were ready to deploy capital, maintaining a “risk-on” market stance.
April Reversal Sees Steady Drains
In contrast, April brought a dramatic shift. Stablecoin outflows dominated nearly every day of the month, steadily draining capital from exchanges.
As a result, balances plunged to approximately $61.5 billion by the beginning of May—a net drop of more than $5 billion in just four weeks. Nansen’s visual data shows a clear decline in the yellow line tracking exchange balances, with outgoing transfers increasingly outweighing deposits.
This trend suggests a potential cooling of the market’s speculative momentum. Whether it marks the start of broader repositioning or a pause before the next bullish leg remains uncertain. Nonetheless, April’s data underscores a shift in sentiment that investors and traders will be watching closely in the weeks ahead.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/stablecoin-outflows-surge-in-april-wiping-5b-from-crypto-exchanges/