Crypto Spot Trading Plunges to 5-Year Low Amid Market Shift

Cryptocurrency spot trading volumes on centralized exchanges are at a five-year low, reflecting a growing trend towards long-term asset holding. Data reveals that daily trading volume has fallen to around $965.6 million, levels last seen in October 2020. This shift is attributed to macroeconomic uncertainties like volatile global events impacting investor confidence across the cryptocurrency market.