- Price Movements: The stETH discount worsened after a whale withdrew $100m ETH from Curve.
- Market Liquidity: BUSD's market share of volume on centralized exchanges is approaching all time highs.
- Derivatives: The ratio of futures to spot volume has experienced a 5x drop, meaning fewer derivatives are being traded relative to spot.
- Macro Trends: The price of bonds issued by crypto companies has plummeted alongside share prices as investors price in contagion risk.
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