It is a truth universally acknowledged, that October days bring with them a renewed bustle among those who traffic in the speculative coins of the day. The first week of October opened with a flurry of activity upon the digital assets, and the public, as in a fashionable salon, observed with mingled astonishment and amusement. Bitcoin, that stern but capricious sovereign of the ledger, surged beyond the fateful sum of $125,000, while the quiet dependents known as stablecoins gathered in supply, as if to ensure the dignity of the venture. 😅
According to the weekly chronicle of Lookonchain, for the period September 29 to October 5, 2025, the market maintained its forward motion even as a small decline graced the volumes on decentralized exchanges.
Sept 29-Oct 5, 2025 #LookonchainWeeklyReport
🟢 Onchain Overview
Despite a slight dip in DEX volumes, the crypto market remained strong last week as BTC broke above $125,000 to a new all-time high. Stablecoin supply increased by $5.48B, while institutions like Bitmine and…
– Lookonchain (@lookonchain) October 6, 2025
Bitcoin, indeed, ascended past the $125,000 barrier, with the week also witnessing a swelling of stablecoin stock by $5.48 billion, the sort of liquidity that would please even a financier of propriety and countenance. Metaplanet, one of the grandest of Bitcoin treasuries, contributed 5,268 BTC, amounting to about $603.7 million, widening its hoard to 30,823 BTC with an average price of about $107,912. Yet Strategy, another venerable creditor of the coin, reported no new purchases of late.
As for Ethereum, the larger and more serious investors remained at their desks: Bitmine acquired 179,251 ETH, valued roughly at $821.7 million, and now holds approximately 2.83 million ETH, worth about $12.97 billion. 🧭
Stablecoin markets flourish
The cumulative capitalization of stablecoins rose by $5.48 billion over the week. On Ethereum, USDT and USDC grew by $2.24 billion, while on Plasma the same two coins declined by about $716 million. The indisputable message seems to be a preference for liquidity in Ethereum-based venues, where DeFi products of substantial pedigree and yield opportunities reside.
DEX activity-softening yet considerable
Spot trading on decentralized exchanges amounted to $120.88 billion, down 13.86% from the preceding week. Uniswap led with $28.74 billion, a slight retreat of 0.53%, followed by PancakeSwap with $21.96 billion, down 1.66%. Perpetual-futures DEX volume reached $224.22 billion, marking an 8.29% weekly decline. Hyperliquid accounted for $58.92 billion (−26.83%), while Lighter contributed $55.38 billion (−12.31%). Notwithstanding these diminutions, on-chain trading levels remain of extraordinary height. 😂
Market interpretation
All signs suggest capital is consolidating within established dominions-Ethereum for stablecoins and eminent DeFi, and Bitcoin for the repositories of institutional fortune. Although trading volumes have cooled somewhat, the persistence of accumulation by firms such as Bitmine and Metaplanet points to steadfast conviction, even as prices ascend to fresh pinnacles.
Continued observation of stablecoin flows and corporate balance-sheet movements shall reveal whether this rally is a durable inflow or a mere position-taking in the wake of Bitcoin’s record peak.
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2025-10-06 20:45