Trading volume plunges, DEXes rebound
Trading volume on centralized crypto exchanges (CEXs) like Binance, Kraken, Coinbase, and Crypto.com fell in June 2025 to the lowest level since September 2024.
Trading volume on centralized crypto exchanges (CEXs) like Binance, Kraken, Coinbase, and Crypto.com fell in June 2025 to the lowest level since September 2024. That comes from data from The Block. In total, only $1.07 trillion was traded on these platforms, a drop of more than 63% from the peak in December 2024, when volume was $2.94 trillion.
The pullback underscores one main point: retail investors have temporarily sidelined their interest in Bitcoin and altcoins. While institutions keep accumulating quietly, buying more BTC than is mined daily, retail is stepping back. Google Trends backs up that view: even though Bitcoin is hovering around $108,392 and just 3.3% below its all-time high, search interest is at a nine-month low.
Analyst Min Jung of Presto Research says the low trading activity mainly stems from altcoins lagging. Ethereum and other large coins are still about 40% below their previous peaks. Result: day traders are pulling back, and the market is losing its buzz.
On the other hand, there’s one group that’s benefiting: decentralized exchanges (DEXs). In June, they saw as much as $390 billion in volume. A notable stat is the market share: 29% of total spot volume happened on DEXs, a new record.
Yet sentiment among market followers is strikingly optimistic. It’s precisely the low interest from retail that some see as the bottom. Once a new hype kicks off, the crowd returns and pushes prices to new highs. Some asset managers are even targeting $200,000 for Bitcoin by year’s end.
