Report: Average stablecoin liquidity per token decreased by 99% from March 2021 to 2025
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2025-03-30 12:02 1,478
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According to a recent report by research firm Decentralised, new capital inflows have stagnated amid a surge in tokens, resulting in underfunding for many crypto projects. The average stablecoin liquidity for each token fell from $1.8 million in 2021 to just $5,500 in March 2025, a 99.7% drop. This decline indicates that the token issuance continues to increase (currently more than 40 million assets), diluting available capital, while demand or user retention has not increased accordingly. The inflow rate of new tokens exceeds the rate of capital pool expansion, resulting in a decline in liquidity, weakening of communities and reduced participation. Without a lasting source of income, user interest will often dissipate after short-term incentives such as airdrops. Without a sustainable economic structure, attention becomes a liability, not an asset.