Crypto trading volume falls to lowest since 2022; BTC and ETH activity below norms

ChainCatcher reports: 10x Research said in a post on X that crypto trading volume has dropped to its lowest level since 2022. Total crypto market capitalization stands at $2.3 trillion, down 1.7% from last week. Weekly average trading volume is $90 billion, a 7% decline versus the average. Bitcoin's weekly trading volume totaled $38.2 billion, 5% below the average. Ethereum's weekly trading volume came in at $18.3 billion, 18% below the average. Ethereum network fees are 0.12 Gwei, at the 17th percentile, pointing to subdued network usage. Bitcoin's funding rate rose 4.1% this week to 1.5%, sitting at the 13th percentile over the past 12 months. Futures open interest increased by $100 million to $21.5 billion. Ethereum's funding rate climbed 3.7% this week to 2.8%, at the 12th percentile over the past 12 months, while futures open interest also rose by $100 million to $11.8 billion.