According to Lookonchain, the Oct 6–12 market crash liquidated over 1.64M traders for more than $19.2B as on-chain volatility spiked, while meme and BNB ecosystems remained resilient. Source: Lookonchain, Oct 13, 2025. DEX spot trading volume reached $199.3B, up 65.36% week-over-week; Uniswap processed $48.84B (+69.94%) and PancakeSwap $31.62B (+43.97%). Source: Lookonchain, Oct 13, 2025. DEX perpetuals volume totaled $264.53B, a 17.76% WoW increase; Hyperliquid handled $77.74B (+31.94%) and Lighter $61B (+10.15%). Source: Lookonchain, Oct 13, 2025. The stablecoin market cap rose by $1.65B; USDT and USDC on Tron increased by $1.6B while USDT and USDC on Ethereum decreased by $829M. Source: Lookonchain, Oct 13, 2025. Top protocol revenues included Tether at $158.76m (+1.42%), Circle $55.03m (+1.40%), Hyperliquid $25.4m (+28.09%), Four.Meme $18.73m (+447.66%), Tron $9.54m (+24.71%), Jupiter $9.45m (+135.07%), and PancakeSwap $7.88m (+132.45%). Source: Lookonchain, Oct 13, 2025. Institutional and whale activity showed Bitmine bought 202,037 ETH ($838m) and now holds 3,032,188 ETH; Strategy bought 220 BTC ($25.2m) and holds 640,250 BTC; a Bitcoin OG shorted BTC and ETH ahead of the crash and profited over $160m. Source: Lookonchain, Oct 13, 2025.

According to Lennix Lai, OKX Chief Commercial Officer, institutional demand is driving ETH towards $3,000, with ETH accounting for 45.2% of perpetual futures trading volume compared to BTC's 38.1%. Glassnode analysts report that long-term BTC holders are accumulating despite realizing $930 million daily profits, indicating strong institutional conviction. Presto Research highlights Tron's $6 billion net stablecoin inflows in May, while Ethereum and Solana faced outflows. Scott Duke Kominers, a16z Crypto Research Partner, argues that crypto blockchains are essential for AI agent economies, enabling cross-system transactions. DappRadar analysts note a decline in Web3 gaming investment to $9 million due to a lack of engaging gameplay.