On April 7th, independent analyst Markus Thielen released a chart analysis indicating that cryptocurrency spot trading volume has plummeted significantly, with the daily average trading volume dropping from $41 billion in December 2024 to $26.6 billion in October 2025, and over the past 30 days, it has fallen to just $8 billion.

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 continued weakness of altcoins: sluggish trading activity translates into stagnant price movements and worsening market sentiment. For any sustained altcoin rally to truly take off, a substantial rebound in trading volume is necessary.

In the absence of clear catalysts, a broad market rally seems unlikely. Current trading volume is concentrated in a few assets, and overall market participation remains relatively low. #Gate广场四月发帖挑战