Market activity remained subdued from June 15 to June 22, with decentralized exchange (DEX) spot volume nearly unchanged at -0.7% and perpetual contract volume declining by 9.2% week-over-week. Despite this, public companies significantly increased their cryptocurrency holdings, acquiring a total of 2,399 BTC valued at $157 million. Notably, MARA led the acquisitions with a purchase of 1,000 BTC, while Strategy and Bitmine added 520 BTC and 52,203 ETH, respectively.
The stablecoin market also saw a contraction, with the total market capitalization decreasing by $249 million. Institutional and whale activity was highlighted by Michael Saylor's Strategy acquiring 520 BTC at an average price of $67,068, and Tom Lee's Bitmine purchasing 52,203 ETH for $92 million. MARA's acquisition of 1,000 BTC amounted to $66.7 million, underscoring continued interest from major players despite the overall market lull.
Public Companies Accumulate 2,399 BTC Amidst Market Slowdown
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