Bhutan's Sovereign Wealth Fund has reduced its ETH holdings by 26,535 units in the past 24 hours.

Why Is Ethereum Seeing A $1.4 Billion Stablecoin Exit In Just One Week?

The crypto market just witnessed a sharp move that few expected. Ethereum stablecoin supply has dropped by $1.4 billion in only seven days. This sudden contraction raises serious questions about liquidity, investor positioning, and broader market direction. When stablecoins move, the market

Ethereum stablecoins have shrunk by $1.4 billion in 7 days. Where is the on-chain liquidity quietly shifting to?

On February 14, news reports indicate that the supply of stablecoins on the Ethereum network has decreased by approximately $1.4 billion in just one week. This rapid change has quickly attracted market attention. Stablecoins are seen as the "funding buffer pool" in the crypto market. When their size shrinks significantly, it often indicates a directional shift of funds, possibly moving to other public chains, Layer 2 networks, or being directly redeemed for fiat currency. Ethereum hosts mainstream stablecoins such as USDT, USDC, and DAI, which are core to DeFi lending, DEX trading, and derivatives margin trading. When the stablecoin supply declines, on-chain available liquidity tightens, borrowing costs rise, leverage potential is compressed, and trading activity may slow down. The $1.4 billion reduction over 7 days suggests that the "water level" of the settlement layer is rapidly dropping.

RLUSD on-chain throughput soars to $6.3 billion per month, is a stablecoin settlement network taking shape?

February 14 News, RLUSD has been continuously expanding since its launch in December 2024. After early support from multiple platforms, its market capitalization quickly surpassed $1 billion. By 2026, key changes occurred in its liquidity structure, with a global distribution network and zero-fee incentives driving increased trading volume, while custodial deposits contributed to a simultaneous rise in reserves and trading activity. With the withdrawal function and XRPL deposit channel opening on February 12, the on-chain migration of RLUSD has significantly accelerated, and its cross-border payment and multi-network circulation capabilities are gradually taking shape. As of mid-February 2026, RLUSD's circulating supply has increased to approximately $1.52 billion. During this period, the supply was expanded through three issuance events, and some tokens were burned on the Ethereum network to curb excess supply, with the collateralization rate remaining above 103%. On-chain distribution has also become clearer: approximately 77% to 79% of the balance is held on Ethereum, mainly for liquidity and collateral purposes; XRPL holds about 22% to 23%, focusing more on fast settlement and payment routing.

A total of 105,000 ETH long positions have turned profitable, with a current unrealized profit of over $2.1 million.

According to BlockBeats, on February 14th, investors holding 105,000 ETH have broken even, with unrealized gains of $2,167,000. Two major addresses hold 60,000 and 45,000 ETH respectively, with unrealized gains of $749,000 and $1,418,000.

BlackRock Bitcoin and Ethereum ETFs see $18.64 million in daily outflows, but overall US funds are still flowing back in, with institutional attitudes now diverging.

On February 14, news reports indicate that two spot cryptocurrency ETFs under BlackRock experienced net fund outflows on February 13, totaling $18.64 million. Among them, the Bitcoin ETF IBIT saw an outflow of $9.36 million, and the Ethereum ETF ETHA saw an outflow of $9.28 million, making BlackRock the only major US issuer to experience net outflows on that day. However, in contrast to BlackRock's performance, the overall US spot ETFs continued to see positive inflows. On that day, Bitcoin ETFs attracted a total of $15.2 million in new funds, and Ethereum ETFs recorded a net inflow of $10.2 million, indicating that mainstream capital has not exited the crypto asset market but is reallocating funds among different products.

Ethereum Co-Founder Vitalik Buterin Sells 2,961 ETH Over Three Days for Planned Initiatives

Key Takeaways Vitalik sold 2,961.5 ETH worth ~$6.6 million over the past three days at an average price of $2,228, with sales still ongoing