Crypto Market Nears Turning Point as Trading Volumes Plummet

Crypto analyst Richard Galvin believes that the cryptocurrency market is nearing a 'major turning point' due to depressed trading activity, tokenization, and artificial intelligence.

Galvin, who spoke with Real Vision CEO Raoul Pal on September 17, noted that crypto appears to be at or close to a cyclical bottom in trading volumes.

He pointed out that decentralized trading volume has fallen from around $500 billion in January 2025 to around $130-$140 billion, resembling previous crypto bottoms.

Galvin also highlighted Zcash, arguing that financial privacy remains one of the most durable use cases in cryptocurrency. He believes that Zcash is increasingly filling the role of a privacy-focused counterpart to Bitcoin.