Bitcoin Treasury Accumulation Climbs as Stablecoin Liquidity Shifts

Bitcoin treasury accumulation saw a notable uptick in the week ending October 4, with four companies adding a combined 3,342 BTC worth approximately $286.31 million. Michael Saylor’s Strategy led the purchases with 334 BTC, bringing its holdings to 848,000 BTC. Strive Asset Management made the largest single purchase at 2,000 BTC, boosting its reserves to 29,462 BTC. Metaplanet added 1,000 BTC to reach 44,000 BTC, while Remixpoint increased its holdings by 8 BTC to 1,509 BTC. In total, these tracked public treasuries now hold 922,971 BTC, valued at $79.07 billion.

Meanwhile, stablecoin liquidity is shifting across different blockchains. Despite a global net expansion of $715.8 million in stablecoin supply, Ethereum recorded $974 million in net outflows. Solana absorbed $371 million, Tron took in $215 million, and other chains like Base, Arc, and Arbitrum also saw inflows. This movement suggests a selective rotation rather than broad-based risk appetite.

Decentralized exchange (DEX) activity has seen a decline, with spot volume dropping 3.92% to $59.24 billion, while perpetual volume fell 9.85% to $138.12 billion. Hyperliquid remained the largest decentralized perpetual venue despite a 24.31% decline, while GMX surged 243.76% to $8.22 billion. These shifts indicate a changing landscape in decentralized derivatives activity.