Stablecoin Supply Turns Positive as DEX Spot Volume Rises, Per Weekly On-Chain Report

Stablecoin total supply increased by about $121 million between July 6 and July 12, reversing from negative to positive, while decentralized exchange (DEX) spot trading volume edged up and perpetual contract volume continued to slow. According to BlockBeats On-chain Detection, the figures were cited in a weekly on-chain report released by Lookonchain on July 13. The report also said seven companies collectively reduced their Bitcoin holdings by 909.3 BTC over the past week. Strategy made no changes to its Bitcoin position for a consecutive week. In addition, Bitmine continued accumulating Ether, adding 27,801 ETH during the period, the report said.