Spot CEX volume plunges to two-year low at $807B
Two floors in a single quarter is the structural signal: the spring reference has now failed twice in three months, and that re-prices how any Q3 rebound gets measured.
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Two floors in a single quarter is the structural signal: the spring reference has now failed twice in three months, and that re-prices how any Q3 rebound gets measured.
ETH's key levels stretch from $1,713-$1,740 support to $1,950 and $2,000 resistance, with sustained spot buying needed to open a path toward $2,100.
A 74% drawdown in centralized-exchange spot turnover since the August peak is not a typical mid-cycle cooldown; it points to structural thinned liquidity that magnifies every directional move.
The 30-day moving average has slipped under 2024 levels, and Glassnode frames the dip as a quiet regime, not a structural break, with attention rotated elsewhere until $BTC momentum returns.
Spot volume at $3T and futures at $15.7T mark the third straight quarter of decline, with new token listings also collapsing to a two-year low as the sector downturn deepens.
Crypto spot trading volume has fallen to its lowest level since October 2023, according to on-chain analytics firm…