10x Research: Weekly trading volume in the crypto market hits lowest level since 2022

Foresight News reports that 10x Research tweeted the total crypto market capitalization currently stands at $2.3 trillion, down 1.7% from last week. The weekly average trading volume is $90 billion, down 7% from the average and marking the lowest level since 2022. Bitcoin's weekly trading volume is $38.2 billion, 5% below the average; Ethereum's weekly trading volume is $18.3 billion, 18% below the average. Ethereum network fees are currently at 0.12 Gwei, in the 17th percentile historically, indicating sluggish network usage.

In addition, Bitcoin funding rates rose by 4.1% this week to 1.5% (13th percentile over the past 12 months), and open interest increased by $100 million to $21.5 billion. Ethereum funding rates increased by 3.7% to 2.8% (12th percentile over the past 12 months), and open interest grew by $100 million to $11.8 billion. Bitcoin dominance is currently at 58%, down 0.1% from last week; Ethereum dominance is at 10.5%, up 0.1%.