On-chain borrowing has experienced a modest decline of 11.91% from its peak, according to Zack, an on-chain data analyst at Galaxy. Despite a significant drop in perpetual swap open interest, on-chain open borrowing decreased from a record high of $43.82 billion on October 7th to $38.6 billion by October 12th, marking a reduction of $5.22 billion.
On-Chain Borrowing Declines 11.91% from Peak Despite OI Drop
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