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.(Lookonchain)