Lookonchain: Stablecoin Supply Falls $4.68B
Lookonchain reports stablecoin market cap dropped $4.68B in the week of Nov 2-8 while public companies net sold 11,647 BTC and DEX perp volume rose 8.58%.
SourceAnalysis
Lookonchain data for Nov 2–Nov 8 shows total stablecoin market cap fell $4.68B, DEX spot volume slipped 8.38% week-over-week and perpetual volume climbed 8.58%. Protocol revenue declined 11.08% with Pyth posting the largest gain at 237414%.
Public companies recorded a net reduction of 11,647 BTC worth $869.12M. Strategy added 1,037 BTC for $77.38M while Bitmine purchased 9,587 ETH for $20.31M.
BTC trades at $74671.84 inside its Bollinger band on the 4h chart with the upper band at $76905.17 acting as immediate resistance. The EMA50 at $76761.24 and EMA200 at $79929.65 both sit above price, confirming the bearish structure, while MACD at -715.13 prints a death cross and RSI at 36.79 remains neutral. Price testing the upper Bollinger band while the 50-EMA caps upside suggests a retracement toward the lower band support at $74250.62 before any sustained move higher.
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