Aug 25–Aug 31, 2025 #LookonchainWeeklyReport
🟢 Onchain Overview
Last week showed a market divergence: despite a ~10% drop in DEX trading volumes, the stablecoin market cap grew by $6.65B, signaling fresh capital inflow.
While institutions continued to buy Bitcoin, the standout activity was a major strategic rotation by a Bitcoin OG out of $BTC and into $ETH, showing a strong conviction in Ethereum's outperformance.
🟢 Stablecoin Market
The total stablecoin market cap increased by $6.65B. Stablecoins(USDT&USDC) on #Ethereum increased by $5.72B and on #Solana increased by $ 999M.
🟢 Spot & Perps Trading Volume on DEXs
The DEX spot trading volume reached $114.437B last week, down 9.12% from the previous week.
Breakdown:
Uniswap: $30.628B (WoW -13.90%)
PancakeSwap: $13.878B (WoW -6.33%)
Hyperliquid: $7.403B (WoW -13.91%)
Meanwhile, DEX perps trading volume totaled $148.653B, a 10.80% decrease week-over-week.
Breakdown:
Hyperliquid: $88.096B (WoW -16.35%)
edgeX: $9.995B (WoW -24.59%)
Jupiter: $6.057B (WoW -1.53%)
🟢 $BTC purchases
6 listed companies purchased 2,329.29 $BTC($253M) last week.
🟢 Institutional/Whale Activity
This Bitcoin OG kept selling $BTC and buying $ETH spot last week.
Since Aug 20, he has sold 35,991 $BTC($4.04B) and bought 886,371 $ETH($4.07B) at a 0.0406 rate on #Hyperliquid.
He still holds 49,634 $BTC($5.43B) in 4 wallets.
43.01K
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