Weekly Report: $4 Billion Worth of Bitcoin Swapped for Ethereum, Institutions Continue to Accumulate BTC

ChainCatcher reported that the crypto market showed a divergent trend last week. Although DEX trading volume decreased by about 10% week-on-week, the market cap of stablecoins increased by $6.65 billions, indicating a continuous inflow of new funds. Notably, an early investor (OG) holding a large amount of bitcoin made a large-scale asset allocation adjustment, selling 35,991 BTC (approximately $4.04 billions) since August 20, while purchasing 886,371 ETH (approximately $4.07 billions), demonstrating strong confidence in Ethereum's future performance. This investor still holds 49,634 BTC (approximately $5.43 billions).

During the same period, institutional investment enthusiasm remained high, with six listed companies collectively purchasing 2,329 bitcoin, with a total value of approximately $253 millions.