比特幣和替代幣交易量已下降，這表明交易者利息衰弱

鏈上的數據顯示，比特幣和Altcoins最近看到了交易量的下降，這表明交易者對市場的興趣正在減弱。

On-chain data shows that Bitcoin and the altcoins have seen their trading volume decrease recently, a sign that trader interest in the market is waning.

鏈上的數據表明，比特幣和山寨幣最近看到其交易量減少，這表明交易者對市場的興趣正在減少。

Trading Volume Is Down For Bitcoin And Altcoins As Interest Fades

隨著利息的淡出，比特幣和山寨幣的交易量減少了

In a new post by on-chain analytics firm Santiment, the firm discussed how the trading volume has changed for the various assets in the cryptocurrency sector.

在鏈上分析公司的新帖子中，該公司討論了加密貨幣領域的各種資產的交易量如何變化。

Here, “trading volume” is defined as the total amount of a given coin that was involved in trading activity on all exchanges in the past 24 hours. This metric shouldn’t be confused with the “transaction volume,” which keeps track of the amount involved in transfers across the network, including peer-to-peer (P2P) trades.

在這裡，“交易量”定義為過去24小時內所有交易所交易活動的給定硬幣的總量。該指標不應與“交易量”相混淆，該指標可以跟踪整個網絡中傳輸的數量，包括對等交易（P2P）。

Rising trading volume indicates that investors are engaging in more trades on exchanges, which in turn implies they are showing interest in the cryptocurrency.

不斷上升的交易量表明投資者正在從事更多交易交易，這反過來又意味著他們對加密貨幣表現出興趣。

On the other hand, the indicator dropping suggests traders aren’t paying as much attention to the coin, as they are lowering the number of their moves.

另一方面，指標掉落表明，交易者對硬幣的關注並不多，因為他們正在減少其動作數量。

Now, here is the chart shared by the analytics firm that shows the trend in the trading volume for Bitcoin and the various top altcoins over the past month:

現在，這是分析公司共享的圖表，該圖顯示了過去一個月比特幣和各種頂級山寨幣的交易量的趨勢：

As is visible, the trading volume across the sector hit a peak late last month, which means the investors were participating in a large amount of spot moves related to Bitcoin and company.

可見，整個行業的交易量上個月下旬達到了高峰，這意味著投資者正在參加與比特幣和公司有關的大量現貨移動。

The spike in trading activity came as prices of the various assets observed a plunge. Generally, the market tends to come alive in volatile periods, as traders rush to make panic moves, whether for selling or buying. As such, the volume increase would make sense.

交易活動的飆升是隨著各種資產的價格觀察到了一筆投資的價格。通常，隨著貿易商急於採取恐慌行動，無論是出售還是購買，市場往往會在動蕩的時期內活躍起來。因此，數量增加將是有道理的。

However, while volatility has continued in the last couple of weeks since then, the volume has interestingly been following a downward trajectory instead. To be sure, there have been spikes deviating to the upside, but the overall trend has remained in the down direction.

但是，儘管自那時以來的過去幾週，波動率一直在持續，但有趣的是，該數量一直遵循下降軌跡。可以肯定的是，峰值偏離了上升空間，但是總體趨勢仍然朝著下降方向偏離。

“When trading volume for major cryptocurrencies consistently drops, even during slight price recoveries (like we have seen Wednesday), it typically points toward diminishing trader enthusiasm,” explains Santiment.

Santiment解釋說：“當交易量的主要加密貨幣始終下降時，即使在價格恢復的價格略有回收時（就像我們週三看到的那樣）時，它通常指向降低交易者的熱情。”

Historically, price moves have usually required a certain level of interest from the investors to be sustainable. This is because it’s only when a large amount of investors are making trades that moves like this can obtain the fuel that they need to keep going.

從歷史上看，價格轉移通常需要投資者的一定興趣才能可持續。這是因為只有當大量投資者進行交易才能獲得這樣的行動時，才能獲得他們需要繼續前進的燃料。

Hence, with trader participation seemingly reaching exhaustion, it’s possible that Bitcoin and other assets may not be able to put together any lasting recovery rallies.

因此，隨著交易者參與似乎筋疲力盡，比特幣和其他資產可能無法整理任何持久的恢復集會。

“To signal a healthier and more sustainable recovery, bulls generally will want to see both rising prices and rising volumes simultaneously,” explains the analytics firm. “Until trading activity increases meaningfully, cautious market sentiment is likely to dominate.”

該分析公司解釋說：“為了提示更健康，更可持續的恢復，公牛通常希望同時看到價格上漲和同時增加的數量。” “在有意義的交易活動增加之前，謹慎的市場情緒可能會占主導地位。”