January cryptocurrency spot trading volume reaches 19-month high, nearing $1.4 trillion

According to CCData, the spot trading volume of digital assets in January hit a 19-month high, reaching close to $1.4 trillion. However, it remains below the monthly average level during the cryptocurrency bull market in 2021. Evgeny Gaevoy, Co-founder of Wintermute, stated that trading volume is expected to reach 2021 levels by the end of the year, especially for Bitcoin. Chuan Jin Fong, Head of Sales at GSR Markets, noted that the outlook for the crypto market has improved with the long-term influx of funds into ETFs exceeding expectations.