Last week saw a significant influx of institutional capital into the cryptocurrency market, with major firms acquiring over $4.7 billion in Ethereum (ETH) and the stablecoin market cap expanding by $6.7 billion. This surge in liquidity fueled a notable increase in decentralized exchange (DEX) trading volumes, with spot trading reaching $124.264 billion, a 29.47% rise from the previous week. Uniswap led the way with $37.842 billion in trading volume, up 34.04% week-over-week.
In the derivatives market, DEX perpetuals trading volume soared to $164.684 billion, marking a 48.64% increase. Hyperliquid accounted for the majority with $104.467 billion, a 52.61% rise. Meanwhile, eight companies purchased 1,842.06 BTC, valued at $212 million, and entities like BlackRock, Bitmine, and SharpLink acquired 1,096,368 ETH, representing 0.91% of the total supply. However, the week also saw strategic profit-taking by early Ethereum investors and significant losses for high-leverage traders on platforms like Hyperliquid.
Institutional Capital Boosts Ethereum and DEX Trading Volumes
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