Despite a quiet week for on-chain liquidity — stablecoin inflows totalled just $53 million and both DEX spot and perpetuals volumes fell sharply week-on-week — institutional buyers showed no sign of slowing. Nine public companies collectively added 4,189 BTC worth $321.5 million between April 20 and April 26.
The headline moves came from two well-known names. Tom Lee's Bitmine acquired 101,901 ETH for approximately $236 million, one of the larger single-week ETH accumulation events on record for a public company. Michael Saylor's Strategy added another 3,273 BTC at an average of $77,906, bringing its running total higher once again.
The divergence between soft retail-driven DEX activity and persistent institutional buying is the key signal here: the bid is coming from balance-sheet buyers, not momentum traders.
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