
RETAIL HAS VANISHED FROM THE CRYPTO MARKET CEX spot volume collapsed to $679 billion, the lowest level since October 2023, as per CryptoQuant. Spot trading is now down 46% YoY, a staggering -67% drawdown from its October 2025 peak. Major exchanges are rushing to pivot to gold, silver, oil, stocks, where the monthly volume has already exploded beyond $450 billion.




