JUST IN: Trading Volume, the 48% decline reflects diminished interest and risk appetite. Perpetual futures dominate because market participants are engaging in speculation rather than direct purchasing (spot volume remains low at $0.8B).


Stricter Regulation: Trading volume dropped due to new regulatory requirements imposed on exchanges. Nevertheless, perpetual futures volume remains high ($3.5B) as traders continue to seek leverage despite these restrictions.
Capital Rotation: The decline does not signify a complete loss of interest; rather, capital has shifted toward DeFi protocols or traditional assets. The weak spot market volume ($0.8B) confirms this trend, while perpetual futures are being utilized for hedging and arbitrage strategies.
DEFI0,94%
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