🔽 Spot trading volume on Binance for major coins has dropped hard:
😁 BTC volume went from around $2B/day in 2022 to roughly $500M now
😆 ETH dropped from ~$400M to ~$200M
😵💫 BNB is back near bear market levels too
🔽 DEX futures volume has also been declining for 6 straight months, falling from $1.36T to under $700B.
💭 Feels like part of the liquidity is simply moving elsewhere. RWA has grown more than 250% in just 15 months, while AI is taking most of the attention right now. Meanwhile crypto still feels like it’s searching for the next big narrative to bring retail users back.
🪙🪙📰📰📰 What’s interesting though is institutions seem to be doing the opposite. BTC ETF trading volume reportedly doubled from $1T to $2T in just 8 months, with several record-breaking trading days earlier this year.
Retail feels exhausted. Institutions still seem very active. Strange market phase honestly 👀