CryptoQuant: Market Trading Volume Recovers, Possibly Entering Early Bull Market Phase

On September 14, CryptoQuant released a report stating that the trading volume of spot and perpetual contracts in the cryptocurrency market significantly rebounded on August 21, with daily spot trading volume reaching approximately $75 billion, one of the highest levels since February; daily trading volume for perpetual contracts reached about $336 billion, a new high since March. This surge in trading volume occurred against the backdrop of a 24% increase in BTC, indicating that it was primarily driven by buying activity. By August 25, the 30-day growth rate of trading volume for spot and perpetual contracts across major trading platforms had noticeably expanded, suggesting that market participation and leverage activities are recovering. CryptoQuant believes that the return of trading volume may indicate that the market is transitioning from the bearish downward phase to the early stages of a bull market.

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