Bitcoin surged past $125,000 to a new all-time high last week, reflecting strong market confidence despite a decline in decentralized exchange (DEX) volumes. The stablecoin market cap increased by $5.48 billion, with significant growth on Ethereum, while Plasma saw a decrease. DEX spot trading volumes fell by 13.86% to $120.883 billion, with Uniswap and PancakeSwap experiencing slight declines. DEX perpetuals trading volumes also dropped by 8.29% to $224.218 billion, with Hyperliquid and Lighter seeing notable decreases. Institutional activity remained robust, with Metaplanet acquiring 5,268 BTC worth $603.7 million, bringing its total holdings to 30,823 BTC. Bitmine purchased 179,251 ETH valued at $821.75 million, increasing its holdings to 2,830,151 ETH.