Gate Institutional Weekly Report: BTC Funding Rate Turns Positive, CEX TradFi Trading Volume Soars (March 23–29, 2026)
Last week, the market was primarily driven by a sharp escalation in the U.S.-Iran conflict, which pushed WTI crude oil prices above $100 amid threats to the Strait of Hormuz. This triggered inflation concerns, rising U.S. bond yields, and a sell-off in tech stocks and crypto assets, with major cryptocurrencies falling over 6%. Market sentiment indicators like the VIX and Fear & Greed Index reflected high uncertainty and fear.
In crypto ETFs, outflows dominated mid-week with $500M net withdrawn from BTC and ETH products, though slight inflows returned by the weekend. TradFi trading volume on CEXs surged, especially in commodities and metals, while PAXG liquidity recover after initial sell pressure.
On-chain, DEX trading cooled, with Meteora on Solana maintaining high volume while others declined. Stablecoin supply remained stable, with DAI showing resilience. LST protocols like Lido and Jito saw reduced activity due to lower ETH and SOL performance. Aave’s lending decreased overall, though Mantle saw growth.
Derivatives data showed BTC funding rates briefly turned positive, indicating tentative long interest, though open interest declined and skew remained negative, reflecting defensive sentiment. Implied volatility held steady, suggesting limited expectations for near-term price swings.
Gate highlighted progress in data-driven operations, growth in lending, AI integration, and upcoming events including the Hong Kong Web3 Festival.
marsbit04/03 12:34
