It was a relatively quiet day in crypto markets with most coins a touch lower on the day, mostly driven by Asia price action. All 11 crypto indices published by Laevitas are down, with Layer2 coins leading the way at -3.2% and Liquid Staking Derivatives performing best at -0.6%.
The unexciting price action was accompanied with lower activity, with derivatives trading volumes lower across the board: perpetual futures -19%, term futures -31%, and options -20%.
ATM Implied Volatility for BTC is lower across expiries while ETH's IV term structure flattened slightly today, driven both by both the front and long-ends of the curve.
During the last 24 hours, the top three gainers were $DOG, $BRETT, and $NOT, while the top three losers were $TURBO, $BONK, and $FLOKI.