Crypto Trading Volumes Hit Their Lowest Since June
The cryptocurrency market appears to have entered a sluggish phase, with exchange trading volumes hitting a new low in November 2025. According to recent data, the month’s total trading volume fell to $1.6 trillion—marking the weakest activity since June.
For months, the market has experienced unpredictable price movements, leading many traders to pull back. Key platforms like Binance, OKX, Coinbase, Bybit, and Kraken all reported noticeable drops in activity, with no major exchange showing any uptick during the period. This trend highlights declining confidence among traders, especially after a brief recovery seen in July and October.
Exchange Data Points to Weakened Momentum
The data from The Block reveals a downward trend in trading activity across both centralized exchanges (CEXs) and decentralized exchanges (DEXs). DeFiLlama’s data reports a daily DEX volume of just $8.1 billion at the time of writing, with the 30-day aggregated volume dropping by 22% week-over-week to $399 billion.
Earlier in the year, in January and February, daily trading spiked frequently above $30-$50 billion, showcasing higher engagement levels. However, the current range of $5-$15 billion per day exhibits a stark reduction in market momentum. Retail and active traders alike have taken a step back, contributing to the slowdown.
A Market in Limbo
Falling trading volumes often indicate diminished liquidity, leading to more abrupt price swings and less predictable movements across the market. As a result, traders are awaiting clear market catalysts that could signal a potential upside.
For those still actively trading or investing, it may be the right time to focus on market analysis tools or staking assets for potential rewards. Using platforms like Ledger Live (available here) is one way to safely manage your crypto portfolio during uncertain times.
Until a clearer trend emerges, it appears the market will continue to drift, weighed down by low trading enthusiasm and reduced investor confidence.
