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The total volume in DeFi is currently $2.07 billion, 7.87% of the total crypto market 24-hour volume. The volume of all stablecoins is now $25.1 billion, which is 95.46% of the total crypto market 24-hour volume.
Both Bitcoin and Ethereum have exhibited stability, remaining within a narrow 2% price range in recent days. Notably, open interest in both of these tokens is on the rise, indicating new short positions are being opened, said CoinDCX Research Team.
The total volume in DeFi is currently $1.87 billion, 7.77% of the total crypto market 24-hour volume. The volume of all stablecoins is now $23.1 billion, which is 96.09% of the total crypto market 24-hour volume.
The crypto market was range-bound over the weekend and continues to trade sideways. The crypto fear and greed index, too, remained steady over the weekend. The index is currently in the fear zone with a score of 40/100, said Parth Chaturvedi, Investments Lead at CoinSwitch Ventures.
"Bitcoin's value dipped below the $27,000 support threshold, trading around $26,000. One factor contributing to this could be the U.S. SEC's decision to postpone evaluating spot bitcoin ETF applications until October," Edul Patel, CEO & Co-Founder of Mudrex, said.