Our data show a modest contraction in liquidity as stablecoin supply and DeFi TVL both retreated, while market sentiment remains fearful and funding rates stay firmly positive, hinting at continued leverage pressure.
Stablecoin supply drops 2 % to $294.1 bn
The total supply of dollar‑, euro‑ and other stablecoins fell to $294.1 bn as of November 8 2026, a 2.0 % decline ($6.0 bn) over the last seven days and a 4.6 % drop over the past month. The decrease is unusual but does not represent a new low since our records began.
Kirill SagitovFormer CEO of coytx.com. At COINMAG he writes the daily data briefs: market sentiment, stablecoins, derivatives, DeFi and prediction markets, built on the numbers COINMAG tracks.All articles by the author
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Across all chains, DeFi’s total value locked fell to $80.8 bn, down 1.8 % in the last week. The level is the lowest observed since August 21 2026, signalling a pullback in locked capital.
The Crypto Fear & Greed Index registered 28 on November 8 2026, classified as Fear. It rose slightly from yesterday’s 25 but remains well below the week‑ago level of 34 and the month‑ago 59, showing continued risk aversion.
Fear & Greed Index, last 30 days 28Data: alternative.me.
Perpetual futures on Bybit carried an open‑interest‑weighted average funding rate of +8.1 % annualized, with Bitcoin at +11.0 % and Ethereum at +8.2 %. Fifteen of the 38 markets posted negative funding, while the most extreme rates ranged from –20 % on GRAM to +11 % on XMR and BCH.
Most extreme funding rates, annualized
GRAM−20%
UNI−15%
LINK−14%
LTC−11%
XMR11%
BCH11%
Bybit perpetuals with over $20M open interest. Computed by COINMAG.
Bitcoin’s share of the total crypto market value stood at 59.3 % on November 8 2026. The overall market cap was $2.56 trillion, down 2.9 % in the past 24 hours, keeping Bitcoin’s dominance steady.
Among DeFi apps with over $300 million in deposits, Obol led with an 18.7 % increase to $1.3 bn. Other notable moves included Sky’s 15.9 % drop to $4.3 bn and Polymarket’s 12.0 % decline to $0.3 bn, while Kinetiq, USDD and SUN each slipped around 11‑12 %.
We will keep an eye on stablecoin flows, DeFi TVL trends and funding rate shifts for signs of changing market dynamics.
Data: DefiLlama, alternative.me, Bybit and CoinGecko, collected and computed by COINMAG. Charts may be reused with a link to this page. This is not financial advice.
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