Matrixport: Cryptocurrency Market Lacks New Catalysts, Retail Trading Enthusiasm Wanes Overall

BlockBeats News, July 7th, Matrixport released its daily analysis stating that this year, the retail trading activity in the crypto market has remained weak. The daily spot trading volume in Korea has dropped to $775 million. The significant decline in trading volume reflects an overall waning enthusiasm among retail participants.

Since the launch of the TRUMP coin in January, market trading has gradually slowed down. With the unlocking of $782 million worth of TRUMP tokens next week, the additional supply may further intensify market selling pressure, and some holders may exit to cash out. If there is insufficient buying pressure to support this, short-term volatility may escalate.

The current market lacks new driving factors, and most retail investors seem to have already entered the "summer break mode" ahead of time.