Bitcoin Hits New Highs as DEX and Perp Volumes Surge
Bitcoin continued its upward trajectory last week, reaching new all-time highs as decentralized exchange (DEX) and perpetual contract volumes saw significant increases. The total stablecoin market cap rose by $3.244 billion, with notable inflows on Hyperliquid and outflows on Arbitrum. The public pre-sale of $PUMP sold out in just 12 minutes, adding to market enthusiasm.
DEX spot trading volume climbed to $106.938 billion, a 21.12% increase from the previous week, with PancakeSwap, Uniswap, and Raydium leading the charge. Perpetual trading volumes also surged, totaling $86.889 billion, marking a 31.58% week-over-week rise. Hyperliquid, edgeX, and Jupiter were the top performers in this category.
Institutional and whale activity was robust, with 12 companies purchasing 5,871.33 BTC worth $705 million. SharpLink acquired 60,582 ETH, including 10,000 ETH from the Ethereum Foundation, while BlackRock recorded the largest weekly net inflow in history by accumulating 240,678 ETH. In the perpetual market, AguilaTrades turned a $35 million loss into a $2.3 million profit by longing BTC, whereas qwatio faced a $25.84 million loss due to a $334 million position liquidation.
