Analysis: Crypto Spot Trading Volume Sees Steep Decline, Slim Chance of Sustained Rally

BlockBeats News, April 7th, Independent analyst Markus Thielen released a chart analysis indicating that cryptocurrency spot trading volume has plummeted, with average daily trading volume dropping from $410 billion in December 2024 to $266 billion in October 2025, plunging to just $80 billion in the past 30 days.

Spot trading volume is a key indicator of altcoin performance, reflecting market participation and risk appetite. The current contraction in trading activity helps explain the ongoing weakness in altcoins: subdued trading activity translates into sluggish price action and deteriorating market sentiment. Any sustained rally in altcoins requires a substantial rebound in trading volume.

In the absence of clear catalysts, a broad-based rally seems unlikely. The current trading volume is gravitating towards a few selected assets, with overall market participation still relatively low.