Decentralized exchange (DEX) trading activity saw a significant decline from June 8 to June 14, with spot volumes dropping by 40% and perpetual contract volumes down by 33% week-over-week. Despite the downturn in market activity, institutional investors continued to accumulate cryptocurrencies. Michael Saylor's Strategy acquired 1,587 BTC valued at $100 million, while Tom Lee's Bitmine purchased 76,881 ETH for $135.62 million.
The stablecoin market also experienced a contraction, with the total market capitalization decreasing by $979 million. Additionally, nine companies collectively acquired 531 BTC, amounting to $36.37 million, during the same period. This activity highlights ongoing institutional interest in major cryptocurrencies despite reduced trading volumes on DEXs.
DEX Trading Volumes Plummet as Institutional Investors Accumulate BTC and ETH
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