Total stablecoin market capitalization declined by $414.38 million during the week of September 7 through 13, according to on-chain analytics firm Lookonchain. The decrease came alongside a 7.95% weekly increase in decentralized exchange spot trading volumes, while perpetual trading volume fell 7.78%. Public companies added a net 1,615 BTC worth roughly $126.15 million, and Bitmine bought 27,180 ETH valued at approximately $68.19 million. Strategy, the Michael Saylor-led firm, reported no net change in its Bitcoin holdings. Because total stablecoin capitalization remains well above $150 billion, the weekly decline represents only a fraction of a percent. The concurrent rise in company Bitcoin holdings and DEX spot activity suggests that at least some stablecoins were converted into other crypto assets rather than leaving the market outright. Stablecoin supply has fluctuated sharply in recent weeks, reflecting uncertainty over the market’s short-term direction. Protocol revenue across DeFi (decentralized finance) fell 1.16%, although Pyth, a price oracle network, recorded growth during the week.