Chainlink and ONDO Prices Are Up Following JPMorgan's Announcement of Its First Transaction on a Public Blockchain

"@chainalysis data shows that the total value of crypto transactions on DeFi protocols in July 7-13 fell to $3.6 billion, a 30% decrease from the previous week. The decline in crypto activity may be attributed to the cryptocurrency market's price movements, which saw a majority of tokens experience price drops.

Among the seven days in July, the 10th saw the highest volume of crypto transactions on DeFi protocols, reaching $806 million. A significant portion of these transactions involved stablecoins, accounting for 76% of the total volume. The majority of the transactions were executed on the Ethereum blockchain, which was involved in 99% of the transactions.

The crypto derivative market also saw a decrease in activity, with the total volume of futures and options trading on major exchanges dropping by 20% to $567 billion. Among the exchanges, Binance experienced the largest decline in derivatives trading volume.

Despite the slight decrease in crypto derivatives trading, the market remains at an elevated level compared to the beginning of the year. In January, the total volume of futures and options trading on major exchanges was around $200 billion.

Overall, the cryptocurrency market experienced a slowdown in July, with activity levels decreasing across both DeFi protocols and derivatives exchanges. However, the market remains buoyant compared to the start of the year, with institutions and retail investors showing increasing interest in digital assets. As the cryptocurrency industry continues to evolve, it will be interesting to see how these trends play out in the months ahead."