LMAX Digital volumes got off to a slow start this week. Total notional volume for Monday came in at $310 million, 24% below 30-day average volume.

Bitcoin volume printed $144 million, 23% below 30-day average volume. Ether volume came in at $80 million, 21% below 30-day average volume.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $11,771 and average position size for ether at $2,920.

Bitcoin volatility is tracking at the lowest levels of the year, while ETH volatility has been contained since bottoming in May. We’re looking at average daily ranges in bitcoin and ether of $2,419 and $117 respectively.

Bitcoin has held steady over the past 24 hours, hovering near its all time weekly closing highs, supported by robust institutional purchases. Ethereum remains range bound, benefitting from broader crypto sentiment but wrestling with profit taking after recent altcoin rebounds.

Corporate appetite is surging. Metaplanet’s recent bitcoin acquisitions are reinforcing its role as a high conviction treasury player. Meanwhile, Strategy (formerly MicroStrategy) reported a Q2 unrealized gain of ~US $14 billion on its ~65 bln USD Bitcoin holdings after acquiring ~US $6.8 billion worth during the quarter.

Geographic diversification in adoption continues: Texas has enacted legislation to establish a state Bitcoin reserve—the third US state to do so. Kazakhstan’s central bank confirmed plans for a national crypto reserve, while Bhutan is exploring crypto backed tourist schemes.

On the corporate front, at least nine London listed companies—from web design firms to miners—have recently shifted to Bitcoin treasuries to reinvigorate their share prices.

The traditional finance sphere is also feeding into crypto. Bitcoin’s risk asset characteristics mean that US tariff policy developments and Fed commentary are now monitored closely. The latest pause on tariffs is providing a modest tailwind, as market wide risk sentiment perks up.

Additionally, stablecoin regulations, potential FX interventions, and global central bank messaging are signaling that crypto is firmly part of mainstream strategic asset planning.

Of course, volatility around US economic data, rate expectations or regulatory shifts could prompt tactical drawdowns. However, given the current strength in the market, any such dips would be viewed as opportunities to increase exposure at better levels.