Odaily News: A recent report by Kaiko pointed out that as the market stagnates, the volatility of cryptocurrencies continued to decline in August, and the difference in volatility between BTC and ETH is almost non-existent.

The liquidity of international exchanges has soared from $70 million to $120 million, and has been on a continuous upward trend this summer, approaching the levels before the FTX incident. Meanwhile, the liquidity of US altcoins has been struggling to recover. The slight rebound in the spring was interrupted by SEC's lawsuit, which accused some of the tokens of being securities. Currently, this liquidity amounts to $20 million, compared to $32 million in November 2022.

Despite the improvement in liquidity of international exchanges, spot trading volume has declined across the board. The daily average trading volume over the past four months is at its lowest level since October 2020, when BTC was at $10,000 and ETH was at $350.