Crypto Spot Volume Plummets to $15 Billion Amid Concentration Risk

The crypto market has hit rock bottom in terms of spot trading volume, with average daily activity plummeting to $15 billion last week. This is a staggering 70% decline from the peaks reached back in January and marks the lowest reading of 2026.

A closer look at the numbers reveals that more than 60% of this $15 billion in daily spot volume is concentrated on just six exchanges, highlighting a worrying trend of concentration risk. This means that a handful of platforms are carrying the load, while the vast majority of crypto's trading infrastructure sits idle.

The decline in volume hasn't been sudden, either. Average daily trading volume has dropped roughly 50% since December 2025, when it hovered around $20 billion.

Decentralized exchanges (DEXs) aren't picking up the slack, with their own volumes also reaching multi-year lows. This suggests that the problem isn't about where people are trading, but rather that fewer people are trading at all.