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...
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