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DEX volume down 8.6% WoW while $BTC holds.
$3.85B 24h.
Feels like flow is staying parked more than anything else.
BTC gets bids, but alts aren’t really following through, and DEX activity reflects that.
Not seeing much rotation yet. Capital still sitting in: • BTC • majors • stables
Altseason probably needs both BTC strength and some actual rotation.
Right now it’s mostly just the first.
A lot of “alts next” talk, but the volume isn’t really backing it up yet.
Until DEX activity picks up again, this still looks like a majors market.