The crypto trading app saw a significant surge in volume last week, with combined on-chain trading volume reaching $6.35 billion—the highest since the Trump-related market movement in January 2025. Trading bots from Fomo and gmgn accounted for the majority of this volume, collectively making up approximately 70%.
Trading volume is concentrated among a few applications.
Fomo traded $2.38 billion last week, while the GMGN trading bot accounted for $2.07 billion. The Pump.fun app traded $489.5 million, and BasedBot traded $450.5 million. Increased activity was also driven by strong performance from several new meme coins and infrastructure tokens.
DEX is still below its year-to-date high.
According to DefiLlama, the 787 covered protocols recorded $9.18 billion in DEX trading volume for the day and $217.33 billion over the past 30 days, representing a 1.81% week-over-week increase. However, the article notes that daily trading volume reached over $45 billion at the beginning of 2025, meaning current levels are still only about 20% of that peak.
Bitcoin's correlation with gold has increased.
On the macro market front, BTC dipped 1% over the weekend to $78,400; ETH fell 1% to $2,470, and SOL dropped 2% to $103. Bitcoin’s 90-day correlation with gold rose to 0.56, the highest level since statistics began in 2017, while its correlation with the Nasdaq 100 fell to near a one-year low.
- Bitcoin ETFs saw a net inflow of $175 million on Friday.
- Ethereum ETFs saw a net inflow of $26 million on Friday.
- Solana has increased the maximum transaction size to 4096 bytes.
Additional information: The article also noted that certain meme coins and Robinhood Chain ecosystem tokens experienced significant volatility over the weekend, with Hyperliquid and Pump.fun also ranking among the top protocols for protocol revenue.