BlockBeats News, September 3rd, CryptoQuant analyst Axel Adler Jr. wrote that after experiencing a continuous net outflow for 113 consecutive days, the net flow of stablecoin trading platforms turned positive for the first time on September 1st, indicating a change in the previous trend of stablecoin outflows and the liquidity environment. The 30-day average net flow of stablecoin (ERC20) trading platforms has been below zero from May 11th to August 31st, accumulating 113 days in a net outflow state. On September 1st, this metric rose to $13.85 million and then fell to: September 2nd: $11.66 million

On September 3rd, the $6.85 million net inflow scale over the past two days decreased by approximately 51%. It should now be seen as the liquidity environment shifting from continuous outflows to a balanced stage, rather than confirming a large-scale fund inflow. Meanwhile, the Bitcoin Stablecoin Supply Ratio (SSR) is declining from its August peak. The SSR was 13.84 on September 1st, with the 90-day, 200-day, and 365-day oscillation indicators all remaining positive, indicating that the stablecoin's relative purchasing power is improving but has not yet returned to a clearly expansionary stage.

The current market signal is still in a neutral state. If the future net inflow of stablecoin trading platforms continues to expand, while the SSR continues to decline, it may further confirm a liquidity reversal in the crypto market; if the net flow falls back below zero, it means that this improvement may be only a temporary change.