PANews reported on July 16 that according to Cointelegraph, a report released by TokenInsight on Wednesday showed that in the second quarter of 2025, despite the favorable market environment, the spot trading volume of cryptocurrencies still fell by 22%, from US$4.6 trillion in the first quarter to US$3.6 trillion. This is mainly due to the decline in altcoin trading activity and liquidity, while the derivatives market has shown resilience, and traders prefer high-frequency derivatives trading to hedge risks and take advantage of volatility to make profits. Although the average daily spot trading volume fell by 23%, the spot trading volume of MEXC and Bitget grew against the trend, with an increase of 2.7% and 0.7% respectively. TokenInsight predicts that due to factors such as economic uncertainty, spot trading volume in the third quarter will remain sluggish, fluctuating between US$3 trillion and US$3.5 trillion.

In addition, cryptocurrency derivatives are more resistant to price fluctuations, with a total trading volume of $20.2 trillion in the second quarter, down only 3.6%. Although the decline is small, this data highlights the continued impact of the broader market adjustment. TokenInsight pointed out: "Although the Federal Reserve's decision to suspend interest rate hikes in early April briefly boosted market sentiment, concerns about a global economic slowdown and geopolitical tensions still dominate investor behavior."