The spot trading volume in November has dropped to its lowest level in half a year.

Data from The Block shows that the spot trading volume on cryptocurrency exchanges fell in November to $1.59 trillion, a decrease of 26.7% from October, which recorded $2.17 trillion, marking the lowest level since June. Binance's trading volume decreased from 8104 billion to 5993 billion, a drop of about 26%.

Analysts stated that the market entered a state of recession in November, as volatility disappeared and the upward momentum ended, and the decline in trading volume is a characteristic of a typical cooling-off period after profit-taking and liquidity contraction.$SUI

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