Crypto trading volumes have decreased significantly, with a 30% drop below average levels, according to 10x Research. The total market capitalization stands at $2.96 trillion, reflecting a 0.7% decline over the past week. Average weekly transaction volume is reported at $79 billion, marking a 26% reduction from typical figures.
Bitcoin's weekly trading volume has fallen by 36% to $28.9 billion, while Ethereum's volume decreased by 32% to $14.8 billion. Despite these declines, Ethereum network fees remain low at 0.04 Gwei, placing them in the 4th percentile. Bitcoin's funding rates have increased by 3.7% to 8.9%, although open interest has dropped by $5 billion to $27.3 billion. Similarly, Ethereum's funding rates rose by 3.4% to 6.9%, with open interest decreasing by $3 billion to $17.7 billion. Bitcoin's market share is slightly down to 58.9%, and Ethereum's is at 11.9%, both experiencing a 0.1% decrease.
Crypto Trading Volume Declines 30% Below Average, Market Cap at $2.96 Trillion
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