On-Chain Borrowing Sees Slight Decline Amid Perpetual Contracts Drop

According to PANews, Galaxy on-chain data analyst Zack reports that despite a significant decrease in perpetual contracts open interest, on-chain borrowing has only slightly declined. After reaching a historic high of $43.82 billion on October 7, on-chain borrowing fell to $38.6 billion by October 12, marking a decrease of $5.22 billion or 11.91%.