According to a new Messari research report, stablecoin weekly net inflows rebounded last week as onchain activity picked up, even as developers and US banking groups argued over whether stablecoin issuers should be allowed to pay yields.
According to a report published on Wednesday, the stablecoin’s weekly net inflows increased to $1.7 billion, a 414.5% increase for the week.
The recovery also reduced the 30-day average to $162.5 million in positive daily inflows. Transaction volume also increased by 6.3%, while average transaction volume continued to decline, reflecting renewed demand for stablecoin issuance and “reinvigorated” on-chain activity among retail investors, the report said.
Stablecoin flow tracks the net new stablecoins that enter circulation after accounting for purchases.
The increase follows a weaker period earlier in the year. Messari data showed weekly inflows of $249 million two weeks ago and net outflows of $4.4 billion in the 30 days to February 18.
Stablecoin revenue controversy stalls US market structure bill
The new demand comes as debate in Washington over “harvest” stablecoins has intensified. Banking groups argued that allowing stablecoin issuers to charge revenue would create a loophole that could drive depositors away from banks, and urged lawmakers to expand the practice when negotiating the structure of the crypto market.
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Originally scheduled for mid-January, the Senate Banking Committee’s evaluation of the bill has been delayed indefinitely amid controversy over fixed coin revenue.
On Tuesday, US President Donald Trump criticized the banks for blocking the Senate bill.
“Genius law is being threatened and undermined by the banks, and that’s not acceptable — We’re not going to allow it,” Trump said in a post Tuesday on the Social Truth platform.
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The GENIUS Act, a federal regulatory framework for stablecoin issuers, prohibits issuers from paying interest or yield solely for holding payment stablecoins. However, third-party platforms may offer reward programs linked to stablecoin balances.
Separately, the Digital Asset Market Structure Clarity Act, known as the CLARITY Act, is designed to provide a broader regulatory framework for digital assets. The House passed the measure on July 17, 2025, and it was taken up in the Senate.
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