The current market trading activity is much lower compared to the last bear market, with fears of the market bottom being around $30,000.

BlockBeats News, May 18th, according to analyst Yu Jin, the current market trading enthusiasm is far below the bottom of the last bear market (December 2022).

BTC: During the last cycle bottom, the average daily trading volume on the BTC/USDT pair on Binance was around $20 billion, but now it is only around $5 billion. Based on the retracement level of the last bear market, the estimated bottom of this market cycle is around $31,000.

ETH: During the last cycle bottom, the average daily trading volume on the ETH/USDT pair was around $4 billion, but now it is only around $2 billion.

BNB: During the last cycle bottom, the average daily trading volume on the BNB/USDT pair was around $50 million, which is similar to the current level.

It is worth noting that the current price of Bitcoin is much higher than the bottom of the last bear market, so if calculated in BTC terms, the market trading enthusiasm is even more pessimistic.

BlockBeats believes that the crypto bear market is torturous, but the tokenization of some high-quality Real-World Asset (RWA) tokens, on-chain securitization (such as US stocks, gold, crude oil, etc.), intensifying fund diversion and market attention diversion, is also one of the main reasons for the above phenomenon.

In addition, the rise of AI has demystified crypto technology, and the lack of crypto innovation has also prompted market participants to vote with their feet.