Stablecoin Market Cap Drops $3.94B Amid Volatile Trading Week

News Flash 2026-02-03 01:22

The stablecoin market experienced a significant contraction, with its total market cap falling by $3.94 billion due to substantial outflows from Ethereum, Solana, and Base. This decline coincided with a surge in trading volumes on decentralized exchanges (DEXs), as last week's market downturn spurred increased volatility in both spot and perpetual contracts. Institutional and whale activity was notable, with Tom Lee's Bitmine acquiring 41,788 ETH valued at $96.95 million, and Michael Saylor's Strategy purchasing 855 BTC for $75.22 million at a price of $87,974 per Bitcoin. Meanwhile, Trend Research offloaded 53,589 ETH worth $127 million, and BitcoinOG (1011short) sold 121,185 ETH for $292 million to settle a loan, ultimately facing liquidation with a total loss of $128.87 million.

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