比特币和替代币交易量已下降，这表明交易者利息衰弱

链上的数据显示，比特币和Altcoins最近看到了交易量的下降，这表明交易者对市场的兴趣正在减弱。

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.

链上的数据表明，比特币和山寨币最近看到其交易量减少，这表明交易者对市场的兴趣正在减少。

Trading Volume Is Down For Bitcoin And Altcoins As Interest Fades

随着利息的淡出，比特币和山寨币的交易量减少了

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.

在链上分析公司的新帖子中，该公司讨论了加密货币领域的各种资产的交易量如何变化。

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.

在这里，“交易量”定义为过去24小时内所有交易所交易活动的给定硬币的总量。该指标不应与“交易量”相混淆，该指标可以跟踪整个网络中传输的数量，包括对等交易（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.

不断上升的交易量表明投资者正在从事更多交易交易，这反过来又意味着他们对加密货币表现出兴趣。

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，指标掉落表明，交易者对硬币的关注并不多，因为他们正在减少其动作数量。

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:

现在，这是分析公司共享的图表，该图显示了过去一个月比特币和各种顶级山寨币的交易量的趋势：

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.

可见，整个行业的交易量上个月下旬达到了高峰，这意味着投资者正在参加与比特币和公司有关的大量现货移动。

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.

交易活动的飙升是随着各种资产的价格观察到了一笔投资的价格。通常，随着贸易商急于采取恐慌行动，无论是出售还是购买，市场往往会在动荡的时期内活跃起来。因此，数量增加将是有道理的。

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，尽管自那时以来的过去几周，波动率一直在持续，但有趣的是，该数量一直遵循下降轨迹。可以肯定的是，峰值偏离了上升空间，但是总体趋势仍然朝着下降方向偏离。

“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解释说：“当交易量的主要加密货币始终下降时，即使在价格恢复的价格略有回收时（就像我们周三看到的那样）时，它通常指向降低交易者的热情。”

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.

从历史上看，价格转移通常需要投资者的一定兴趣才能可持续。这是因为只有当大量投资者进行交易才能获得这样的行动时，才能获得他们需要继续前进的燃料。

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，随着交易者参与似乎筋疲力尽，比特币和其他资产可能无法整理任何持久的恢复集会。

“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.”

该分析公司解释说：“为了提示更健康，更可持续的恢复，公牛通常希望同时看到价格上涨和同时增加的数量。” “在有意义的交易活动增加之前，谨慎的市场情绪可能会占主导地位。”