Despite Bitcoin hitting new highs, trading volume has declined according to expert analysis. DWF Labs managing partner Andrei Grachev attributes this shift to the cryptocurrency transitioning into a more traditional financial asset category. As institutional investors increasingly incorporate Bitcoin into their portfolios, Grachev predicts a significant price increase over time. However, he anticipates that trading volume will decline as institutions adopt a hold-and-wait strategy for high-frequency transactions and leverage off-chain solutions like Lightning Network and Layer-2 scaling to minimize visibility on the blockchain. This trend suggests a rise in value with lower transaction activity. While this shift may pose challenges for miner revenue, Grachev believes it doesn’t represent a risk to the network’s overall health, predicting long-term growth due to fewer, more significant transactions. He argues that market valuation, rather than trading volume, will increasingly define Bitcoin’s future success.