BlockBeats message, April 7, independent analyst Markus Thielen released chart analysis stating that cryptocurrency spot trading volume has fallen significantly. Daily average trading value dropped from $41 billion in December 2024 to $26.6 billion in October 2025, and in the past 30 days it has fallen to just $8 billion.
Spot trading volume is a key indicator of altcoin performance, reflecting market participation and risk appetite. The current contraction in trading activity helps explain why altcoins have remained sluggish: weak trading activity translates into lackluster price action and continually deteriorating market sentiment. For any sustained altcoin market to truly get going, trading volume needs to show a substantial rebound.
In the absence of clear catalysts, the likelihood of a broad-based rally is low. Trading volume is currently concentrating in a small number of specific assets, and overall market participation remains relatively low.
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