Data: Institutions accumulated over $4.7 billion in ETH last week, and the market value of stablecoins increased by $6.7 billion

According to ChainCatcher news, monitored by Lookonchain, last week BlackRock, BitMine, and SharpLink collectively purchased 1.096 million ETH, worth approximately $4.72 billion, accounting for 0.91% of the total ETH supply. During the same period, eight listed companies accumulated a total of 1,842 BTC, valued at $212 million.

The stablecoin market expanded by $6.72 billion, with USDT and USDC on the Ethereum network increasing by $4.46 billion. Decentralized exchanges performed actively, with spot trading volume reaching $124.264 billion, a week-on-week increase of 29.47%; perpetual contract trading volume reached $164.684 billion, a week-on-week increase of 48.64%.

It is worth noting that as ETH prices rose, some early Ethereum investors and wallets associated with the Ethereum Foundation exhibited profit-taking behavior, while some high-leverage traders faced forced liquidations.