The cryptocurrency market experienced a significant capital influx last week, with the stablecoin market cap rising by $3.65 billion. This growth was accompanied by heightened activity on decentralized exchanges (DEXs) and substantial institutional purchases. Stablecoins on Ethereum increased by $1.97 billion, while those on Hyperliquid rose by $533 million.
DEX spot trading volume reached $109.096 billion, marking a 15.09% increase from the previous week. Uniswap saw a slight decline to $22.635 billion, while PancakeSwap remained stable at $15.347 billion. Meteora experienced a notable rise of 23.11% to $7.079 billion. DEX perpetuals trading volume also grew by 9.59% to $117.47 billion, with BasedApp seeing a remarkable 694.15% increase to $6.242 billion.
Institutional activity was robust, with Strategy acquiring 525 BTC for $60.2 million, bringing its total holdings to 638,985 BTC. Galaxy Digital facilitated Forward Industries' purchase of 6,822,000 SOL for $1.58 billion. BitMine acquired 82,233 ETH for $370.5 million, now holding 2,151,676 ETH valued at $9.7 billion.
Crypto Market Sees $3.65 Billion Stablecoin Surge and Increased DEX Activity
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