Crypto trading volume has declined more than 50% since its peak in February, reflecting trader exhaustion and a decrease in market momentum. Daily trading volume reached $440 billion in early February, then fell to $163 billion by March 12, a drop of 63%. Analysts from Santiment stated this decline indicates diminishing enthusiasm among traders, expressing a mix of exhaustion and hopelessness amid further market capitalization declines of nearly 25%. Over the last ten days, markets lost 15% due to increasing economic concerns in the U.S. Traders are becoming cautious, uncertain if purchasing at current levels will result in profit, as reduced trading activity highlights this uncertainty. Santiment cautioned that weakening volume during minor price increases can signal a potential downturn, stressing the need for rising prices alongside increasing volume for a sustainable recovery. Currently, the crypto market capitalization is around $2.8 trillion, comparable to last year's levels, and the Crypto Fear & Greed Index is indicating a state of fear, remaining below 50 since February 21.

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