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Public treasuries added 3,342 BTC, bringing tracked holdings to 922,971 BTC.
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Ethereum saw $974M in stablecoin outflows while Solana and Tron absorbed $586M combined.
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DEX spot and perpetual volumes both declined week over week, with GMX surging 243.76%.
Bitcoin treasury accumulation is still moving higher, with four companies adding a combined 3,342 BTC, which are nearly worth $286.31 million, during the week from September 28 to October 4th. The bigger story though, is where liquidity is moving while corporate balance sheets keep absorbing supply.
Public Treasuries Keep Adding Despite Market Rotation
The two more firms added, one is Metaplanet that has added 1,000 BTC bringing a cumulative count to 44,000 BTC, while Remixpoint added 8 BTC to reach 1,509 BTC’s. Together, the tracked public treasuries now hold 922,971 BTC in total which are valued to $79.07 billion from current exchange price of BTC.
Stablecoin Capital Is Leaving Ethereum Mainnet
Meanwhile, stablecoin liquidity is telling a different story. As the data suggests, the Global net stablecoin supply has expanded by $715.8 million, yet Ethereum recorded $974 million in net outflows.
But, Solana absorbed $371 million, while Tron took in $215 million. Base added $70.6 million, followed by Arc at $54.2 million and Arbitrum at $41.7 million. The observation shows that rotation doesn’t exactly scream broad-based risk appetite.
DEX Volumes Slide While Perps Stay Dominant
Moreover, the data indicates further details like the DEX spot volume has taken a toll as it fell 3.92% week over week to $59.24 billion, while perpetual volume fell 9.85% to $138.12 billion.
Hyperliquid remained the largest decentralized perpetual venue with $41.53 billion despite a 24.31% decline. Variational, Lighter and Aster also posted weekly contractions. GMX was the obvious outlier, surging 243.76% to $8.22 billion.
For now, Bitcoin treasury accumulation remains strong even as stablecoin capital rotates across chains and decentralized derivatives activity loses momentum.
