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Magyar27 Oct 2026
Total stablecoin market cap fell $2.19 billion in the week to Oct. 25, according to Lookonchain data cited by BeInCrypto, while DEX spot and perp volumes slid. Crypto now heads into a Fed decision on Oct. 28 and a Bank of Japan decision on Oct. 30, with markets pricing holds but December hikes at both.
Markets TradeReviewed News Desk
Crypto is heading into a week with two central bank decisions on a thinner cushion of dollar liquidity. Lookonchain’s weekly report for Oct. 19 to 25, cited by BeInCrypto, shows total stablecoin market capitalization fell by $2.19 billion. The Federal Reserve decides on Oct. 28 and the Bank of Japan follows on Oct. 30.
Where the stablecoins left
Ethereum took the biggest hit. Combined USDT and USDC balances on the network fell $1.17 billion over seven days, more than the other top chains combined according to the report. Tron lost $495 million, the second-largest outflow among the top 15 chains, while Arc posted the largest gain at $294 million.
Stablecoin supply is often read as dry powder for crypto buying. A shrinking base going into macro events suggests fewer fresh dollars waiting on the sidelines.
DEX activity slows too
Trading on decentralized exchanges cooled in the same week. Spot DEX volume dropped 12.21% from the prior week to $44.09 billion, and perpetual futures volume fell 8.59% to $142.54 billion. Hyperliquid, the top perp DEX in Lookonchain’s ranking, saw volume slide 8.50% to $51.68 billion, its weekly revenue fall 10.17%, and USDT and USDC balances on the chain drop $184 million.
Corporate buyers did not stop. Strive bought 6,182 BTC, lifting its holdings to 43,000 BTC, and BitMine added 10,452 ETH worth $24.13 million, per the same report.
Fed and BoJ: holds priced, December in focus
CME Group’s FedWatch tool shows an 89.5% chance the Fed holds at 3.75% to 4% on Wednesday, but puts the odds of a Dec. 9 hike at 82.3%. The probability of no change in December has risen from 7.3% a month ago to 17.7%, which puts weight on Fed Chair Kevin Warsh’s press conference. The BoJ is expected to hold at 1.25% after its September hike, and more than 80% of economists in a Bloomberg survey see its next move in December.
Bitcoin heads into both meetings below $80,000. BeInCrypto notes that when the Fed hiked in September, BTC rose from about $75,350 to above $76,100 within minutes.
What it means for traders
- Watch the guidance, not the decision. Holds are largely priced in. A firm December hike signal from Warsh or Ueda is the bigger risk for prices.
- Liquidity is thinner. Lower stablecoin supply and DEX volume can mean sharper moves on news. Size positions with that in mind.
- Use a venue you trust for event weeks. Our crypto exchange comparison lines up fees, futures products and liquidity. BingX and OKX rank first and second in our tests; see how we test exchanges.
This article is for information only and is not financial advice.
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