Cryptocurrency exchange volumes have fallen to their lowest levels in six months. Data indicates that the seven-day moving average across major exchanges reached just over $32 billion on Saturday, a level not seen since mid-October 2024. This represents a 75% decrease from the high of $132 billion recorded in early December 2024.
Spot Bitcoin ETF volume on Thursday registered at $1.55 billion, marking the lowest point since March 25. Similarly, spot Ethereum ETF volume reached $178.76 million, the lowest since March 27, according to SoSoValue data. The ratio of spot Bitcoin trading to futures trading, measured by the 30-day moving average, is at 0.19, the lowest since early August 2024.
Interestingly, Solana is showing a slight increase in weekly exchange volume when compared to Ethereum. This reverses a trend observed from mid-January to mid-March, according to data from The Block. Last week, Solana's X account reported that the network generated 70% of crypto app revenue on a single day.