Crypto Trading Volumes Plunge 70% to Lowest Level of 2024

The cryptocurrency market experienced a significant decline in trading activity last week, with total volumes falling to approximately $15 billion.

This marks a sharp drop of about 70% from January's peak when volumes reached their highest level of the year at around $50 billion, according to data from crypto analytics firm Kaiko.

The decline is attributed to reduced speculative interest, stable price ranges, and a lack of major news catalysts, which have left traders on the sidelines.