Onchain Trenches Log $6.35B Week, Still Running at 20% of 2025's Greatest Hits 🎬

Onchain trading terminals processed $6.35 billion in volume last week, the largest weekly figure since the TRUMP token launch in January 2025, according to onchain analyst Adam (@Adam_Tehc). The activity was led by Fomo with $2.38 billion and gmgn's trading bot with $2.07 billion, together accounting for roughly 70% of the terminal volume. Pump.fun's app recorded $489.5 million and basedbot $450.5 million, rounding out the top tier of platforms.

The surge accompanied a string of new meme coins and infrastructure tokens reaching $100 million-plus market caps, including ZCAT, Stonk, MEME and Marscoin, alongside the PONS token, which climbed past $600 million as the leading asset on the Robinhood Chain ecosystem. Robinhood CEO Vlad Tenev and AMC CEO Adam Aron publicly traded remarks over tokenized stocks on the same day MEME spiked.

Despite the trading-app surge, broader decentralized exchange activity remained well below prior peaks, according to DefiLlama data covering 787 protocols. Total DEX volume reached $9.18 billion in a single day and $217.33 billion over the trailing 30 days, up 1.81% week-over-week. Single sessions in early 2025 cleared $45 billion, putting current 30-day DEX activity at roughly 20% of 2025 highs.

Separately, crypto majors rebounded earlier in the week as rate-hike odds cooled, with $BTC rising 5% to $81,300. $HYPE, $ZEC and $LIT hit new all-time highs alongside gains across major altcoins, and spot Bitcoin ETFs recorded $730 million in net inflows, the largest daily figure since January. Spot Ether ETFs broke a three-week inflow streak on a subsequent session with $100 million in net Bitcoin ETF inflows. Payward, parent of Kraken, pushed its planned IPO to no earlier than the second quarter of 2027, and Binance recorded $1 billion in stablecoin inflows during the period.