The cryptocurrency market experienced a divergence last week as the stablecoin market cap increased by $6.65 billion, despite a nearly 10% drop in decentralized exchange (DEX) trading volumes. This growth in stablecoins, particularly USDT and USDC, was notable on Ethereum and Solana, with increases of $5.72 billion and $999 million, respectively. DEX spot trading volumes fell to $114.437 billion, a 9.12% decrease from the previous week. Uniswap, PancakeSwap, and Hyperliquid saw declines of 13.90%, 6.33%, and 13.91%, respectively. DEX perpetuals trading volume also dropped by 10.80% to $148.653 billion, with significant decreases on platforms like Hyperliquid and edgeX. In institutional activity, six companies purchased 2,329.29 BTC, valued at $253 million. A notable Bitcoin OG executed a strategic shift, selling 35,991 BTC worth $4.04 billion and acquiring 886,371 ETH valued at $4.07 billion, reflecting a strong belief in Ethereum's potential.