Bitcoin Treasury Buys 3,342 BTC Amid Liquidity Shift

Corporate Treasuries Boost Bitcoin Holdings Amid Shifting Stablecoin Flows

Public treasuries continued their aggressive accumulation of Bitcoin this past week, adding a combined 3,342 BTC and pushing tracked corporate holdings to a significant 922,971 BTC. This influx, valued at approximately $286.31 million between September 28th and October 4th, underscores a persistent corporate appetite for the digital asset.

Key Accumulators Emerge

Among the notable additions, Michael Saylor’s strategy accounted for 334 BTC, bringing its total holdings to 848,000 BTC. Strive Asset Management emerged as the week’s largest purchaser, acquiring 2,000 BTC and raising its reserves to 29,462 BTC. Metaplanet also contributed to the trend, adding 1,000 BTC to reach a cumulative total of 44,000 BTC, while Remixpoint bolstered its reserves by 8 BTC, bringing its holdings to 1,509 BTC. Collectively, these tracked public treasuries now hold 922,971 BTC, currently valued at $79.07 billion based on Bitcoin’s prevailing exchange price. This concentration of corporate exposure was highlighted by data from LookOnChain on X.

Stablecoin Liquidity Shows Divergent Trends

In contrast to Bitcoin’s steady accumulation, stablecoin liquidity presented a more complex picture. While the global net stablecoin supply expanded by $715.8 million, Ethereum experienced substantial net outflows totaling $974 million. However, other blockchains demonstrated significant inflows, with Solana absorbing $371 million and Tron attracting $215 million. Base followed with $70.6 million, joined by Arc ($54.2 million) and Arbitrum ($41.7 million). This rotation suggests a selective movement of capital rather than a broad-based surge in risk appetite.

Decentralized Exchange Volumes Decline, GMX Soars

Further data indicates a slowdown in decentralized exchange (DEX) activity. Spot volume across DEXs fell 3.92% week-over-week to $59.24 billion, while perpetual volume saw a steeper decline of 9.85%, reaching $138.12 billion. Hyperliquid remained the dominant decentralized perpetual venue, posting $41.53 billion despite a 24.31% decrease. Several other platforms, including Variational, Lighter, and Aster, also experienced weekly contractions. An outlier in this trend was GMX, which surged an impressive 243.76% to $8.22 billion.

Despite the shifting stablecoin capital across chains and a general cooling of decentralized derivatives activity, Bitcoin treasury accumulation remains a robust trend.