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Crypto Currency Volumes Did Not Surprise! A Surprise Rise May Come Before the New Year - Coin Bulletin
As we approach the end of 2024, there is a significant decrease in trading volumes in the crypto market.
According to Santiment's data, especially in the last week, the trading volume decreased by 64 percent compared to the previous week. This decline came after an intense week when Bitcoin reached its all-time high level. Please provide the text to be translated.
Stagnation in Altcoins
The decrease in trading volume has become more pronounced, especially in speculative altcoins such as AI/Big Data, Layer-1 and Layer-2 projects, and meme coins. The volume has dropped to the lowest level in 7 weeks in many altcoin sectors.
Santiment points out that this is not surprising. Due to the year-end holidays, it is common for trading volume to decrease during this period when investors focus on their personal finances. The last week of December usually stands out as one of the periods when the lowest trading volume of the year is observed.
Tendency of Whales to Accumulate
Despite the low volume, there is still an accumulation trend among large investors (whales). The strong accumulation trend of whales could trigger an unexpected surge in this period when individual investors are staying away from the market. Santiment indicates that during such periods when individual investors' attention is reduced, large price movements are more likely.