10x Research: Cryptocurrency market trading volume hits a new low since 2022

The research institution 10x Research published on platform X, pointing out that the trading volume in the cryptocurrency market has reached a new low since 2022. Currently, the total market capitalization of the crypto market is $2.3 trillion, down 1.7% from last week, with an average weekly trading volume of $90 billion, a decrease of 7% from the average.

Among them, Bitcoin's weekly trading volume is $38.2 billion, which is 5% lower than the average; Ethereum's weekly trading volume is $18.3 billion, which is 18% lower than the average. The Ethereum network fee (0.12 Gwei) is at a level of 17%, indicating low network utilization.

In addition, the Bitcoin funding rate rose 4.1% this week to 1.5%, at a level of 13% over the past 12 months, with open interest in futures increasing by $100 million to $21.5 billion. The Ethereum funding rate rose 3.7% this week to 2.8%, at a level of 12% over the past 12 months, with open interest in futures increasing by $100 million to $11.8 billion.