Over the past two months, the volume of the USDT stablecoin reserves on cryptocurrency exchanges has significantly decreased. According to expert estimates, from December 2025 to February 2026, this figure dropped from approximately $60 billion to $51.1 billion. The total outflow amounted to nearly $9 billion.
This is reported by Finway
Reasons for the Decrease in USDT Reserves
The analytical company CryptoQuant explains this trend of declining USDT reserves by the overall weakness of the market in January and February. Specialists note that the liquidity outflow has put pressure on the entire cryptocurrency sector, weakening its positions. According to analysts, the $50 billion level is crucial for USDT reserves. If it falls below this mark, the next significant support, according to their estimates, is at the $44 billion level.
“Breaking this minimum will signal strong selling pressure, likely pulling major assets like Bitcoin, Ethereum, and XRP into a deeper correction. As the primary liquidity provider in the market, Tether’s state determines the trend for the entire sector,” the statement reads.
Decrease in On-Chain Activity Among Market Participants
In addition to the reduction in reserves, experts have also recorded a decline in on-chain activity. The number of unique active addresses has decreased from a peak of 376,000 to 263,000. The reduction in the number of senders and receivers of USDT indicates a weakening of activity among both retail and institutional players.
However, Julio Moreno, head of the research department at CryptoQuant, noted that demand for spot Bitcoin began to rise in February for the first time since late November, which may indicate a potential market revival.
It is worth noting that on the night of February 26, 2026, the price of Bitcoin exceeded $70,000, marking a significant milestone for the market.