Volumes at half mast. While the price of bitcoin is in a consolidation phasetrading volumes on crypto platforms are in free fall. According to data compiled by TheBlock, volumes even reached their lowest level in 15 months.
The key points of this article:
Trading volumes on crypto platforms have reached their lowest level in 15 months, falling by almost 60% in one year.
DEXs in DeFi also suffered, recording their lowest volumes since June 2023.
Trading volumes on crypto platforms fall
At the start of 2024, trading platforms recorded monthly volumes of more than 700 billion dollars. Since then, these volumes have continued to increase decline. In September 2025, the platforms recorded slightly less than 300 billion dollars of volumes. A drop of almost 60% in the space of a year. According to data compiled by TheBlock, these volumes have not been this low since June 2023 and here is the analysis of a sector specialist:
“December's decline in CEX activity reflects a convergence of seasonal factors, subdued volatility and year-end positioning as limited catalysts dampened participation. The migration of capital away from exchanges and the shift to alternative execution platforms has also reduced volumes. »
Vincent Liu, CIO de Kronos Research – Source : The Block
Monthly volumes on crypto exchanges – Source: The Block
DEXs are also suffering
On the DeFi side, DEXs are also recording a drop important of volumes. They recorded $118 billion volumes in September, compared to more than 300 billion at the start of the year. Once again, this is the lowest level recorded since June 2023. This data comes from volumes recorded on Ethereum, BSC, Polygon, Arbitrum, Optimism and Solana. It remains to be seen whether this drop in volumes is just a passing moment or whether it is part of a longer trend. The outlook for 2026 obviously remains unclear even if some are optimistic and bet on a resumption of the increase. To be continued.