Andrei Grachev, managing partner of DWF Labs, tweeted that trading activity has bottomed out, with 24-hour spot trading volume at $23 billion, the lowest since the winter of 2019. Behind the scenes, exchanges are beginning to require projects to manage trading volume, liquidity, etc., otherwise they will be delisted. Retail activity is also low, but people want and people need something to speculate, make money (or lose money), and even currencies with larger market capitalizations can see 20-30% price changes in 24 hours, but are still fragile. IDOs, IEOs, and direct listings are no longer working, and people are waiting for something new and the Binance Launchpad project. It always promotes retail trading, and if something is successful, many people will try to repeat it.

Grachev said, “Projects, exchanges, market makers and other market participants are trying to fix the market (behind the scenes), there is no 100% solution, but it will bring something to the market. We are at the bottom in terms of activity, but the price is uncertain. But at the same time, if we are lucky, our market activity should increase in a few months and the price will also rise.”