Aug 18–Aug 24, 2025 #LookonchainWeeklyReport
🟢 Onchain Overview
The crypto market was active this week, with a slight increase in total DEX trading volume.
Hyperliquid's performance was particularly outstanding, as its stablecoin holdings grew by $256M and its spot trading volume surged by 158.38%.
This was mainly driven by a whale who swapped $2.59B worth of BTC for ETH on the platform and opened a long position, pushing ETH to a new all-time high.
🟢 Stablecoin Market
The total stablecoin market cap increased by $415.56M. Stablecoins(USDT&USDC) on #Hyperliquid increased by $256M and on #Arbitrum decreased by $ 455.6M.
🟢 Spot & Perps Trading Volume on DEXs
The DEX spot trading volume reached $125.917B last week, up 1.33% from the previous week.
Breakdown:
Uniswap: $35.573B (WoW -6.00%)
PancakeSwap: $14.816B (WoW +11.51%)
Hyperliquid: $8.599B (WoW +158.38%)
Meanwhile, DEX perps trading volume totaled $166.654B, a 1.20% increase week-over-week.
Breakdown:
Hyperliquid: $105.314B (WoW +0.81%)
edgeX: $13.254B (WoW 42.72%)
Jupiter: $6.151B (WoW -9.94%)
🟢 $BTC purchases
7 listed companies purchased 3,715 $BTC($417M) last week.
🟢 Institutional/Whale Activity
A Bitcoin OG who received 100,784 $BTC($642M then, now $11.4B) 7 years ago sold ~22,769 $BTC($2.59B) to buy 472,920 $ETH($2.22B) spot and open a 135,265 $ETH($577M) long.
This brings the spot trading volume on #Hyperliquid to $8.599B, up 158.38%.
52.33K
195
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.