<div id="readability-page-1" class="page">A decline in ERC-20 stablecoin supply is often interpreted as liquidity exiting the cryptocurrency market. However, on-chain data from CryptoQuant shows a different dynamic unfolding in January 2026. Rather than leaving the system, stablecoin liquidity appears to be rotating across blockchain networks source: https://www.ethnews.com/stablecoin-liquidity-is-shifting-networks-not-leaving-crypto/</div>

<p>A decline in ERC-20 stablecoin supply is often interpreted as liquidity exiting the cryptocurrency market. However, on-chain data from CryptoQuant shows a different dynamic unfolding in January 2026. Rather than leaving the system, stablecoin liquidity appears to be rotating across blockchain networks source:</p>

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Stablecoin Liquidity Is Shifting Networks, Not Leaving Crypto