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Analysis: CEX spot trading volume has dropped to a nearly 5-year low, and the market is shifting to HODL mode.
Gate News bot news, CryptoQuant analyst Axel stated on social media that the daily average spot trading volume of CEX has dropped to the level of October 2020. Tokens are neither sold on the spot nor transferred on-chain—the market has shifted to "Coin Hoarding" (HODL) mode.