Daily Spot trading volume across 44 exchanges has dropped to approximately $15 billion, representing a 70% decline from the peak reached in January. This contraction occurs while the global cryptocurrency market capitalization stood at $2.18 trillion. In February, only two days saw volumes exceed $100 billion. This decline in trading volume is accompanied by a drop in liquidity, making price movements more vulnerable to abrupt reversals. Additionally, over 60% of Spot volume remains concentrated on the six largest platforms, while 64,537 traders were liquidated in 24 hours for a total of $246.82 million.
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