Total stablecoin market capitalization fell by $414.38 million during the week of September 7 through 13, according to on-chain analytics firm Lookonchain. Meanwhile, decentralized exchange spot trading volumes rose 7.95% week-over-week, while perpetual trading volume declined 7.78%. Public companies accumulated a net 1,615 BTC worth approximately $126.15 million during the same period. Bitmine notably purchased 27,180 ETH valued at roughly $68.19 million. The stablecoin supply contraction, which represents only a fraction of the total market capitalization exceeding $150 billion, appears to reflect asset conversion rather than outright market exit.
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