On-chain data #数字资产动态追踪 suddenly reveals an interesting signal. Mainstream coins like DOGE, SOL, and a bunch of altcoins saw their weekly trading volume drop to about half of the same period last year by the end of 2025. This is not an isolated performance of a single coin; Santiment's overall trading activity indicator clearly reflects this trend—structural decline. Trading volume is the most straightforward indicator. Increased volume usually implies active chip turnover and rising market attention; conversely, declining volume suggests the market is slowing down. Currently, BTC is oscillating within a range, lacking enough volatility to drive movement, and the trading enthusiasm for altcoins has naturally cooled down. Similar situations were seen during the quiet holiday period at the end of last year, but this year's level of "inactivity" is noticeably more severe. Why is this happening? Several perspectives can explain it: capital flow has become more cautious, with large investors and institutions gradually focusing on highly liquid assets like BTC and ETH; meanwhile, the altcoin ecosystem lacks major events or fundamental positive news that can continuously attract attention, leading participants to more passively wait—waiting for news, waiting for macro trends—rather than actively engaging in the game. Is this really a bad thing? Not necessarily. Shrinking trading volume might precisely indicate that the market is digesting previous sharp fluctuations and entering a phase of consolidation. Without significant trading volume support, it’s difficult to form a trend breakout. This is why we can understand that the current period is a key window for structural adjustment, rather than simply the beginning of a decline or bear market. In one sentence: where did the trading volume go? It actually reads the market’s current true "interest" better than price. According to historical cycle patterns, this low activity often is not a sign of a climax but rather appears on the eve of trend reversals.

#数字资产动态追踪 Looking at $ETH recent trend, according to wave theory, we are currently in the 5th wave of wave C. Specifically, the B segment of wave A is almost complete, with a combination of a platform correction, an X wave, and then a triangle pattern, with the triangle converging almost finished. What does this mean? The C segment of wave A is about to start, and there should be a downward wave next. But this is not bad news—on the contrary, it’s an opportunity. The decline is a path laid out for the smart. Traders who truly understand wave theory often find turning points during these correction periods and seize the rebound opportunities afterward. So what needs to be done now is to closely observe the technicals and wait for confirmation signals.