加密市场持续去杠杆，二季度现货交易量创2023年Q3新低

Odaily Planet Daily News: Institutional firm FalconX has released its 2026 Q2 crypto market analysis report, indicating that the industry continued its deleveraging trend this quarter. Data shows that total spot trading volume across all platforms in Q2 was $1.6 trillion, a 25% decrease quarter-over-quarter and a significant 42% drop year-over-year, marking the lowest level since Q3 2023. Futures trading volume stood at $9 trillion, down 12% and 31% quarter-over-quarter and year-over-year, respectively. Open interest in futures contracts fell back to $53.2 billion, nearly halving from the peak of $122.2 billion in October 2025. The trading turnover ratio dropped to 1.6 times, indicating reduced speculative appetite and an increased proportion of long-term holdings.

The capital side faced clear pressure, with Bitcoin spot ETFs seeing net outflows of $4.9 billion in Q2, bringing cumulative net outflows for the year to $5.4 billion. The total stablecoin supply decreased by $7.4 billion to $313.8 billion, marking the first contraction in several quarters. FalconX assesses that the current market deleveraging phase is largely over, and there are early signs of a rebound in trading volume from June. Looking ahead to Q3, the key catalysts for market movement will come from the legislative progress of the US CLARITY Act and shifts in spot ETF capital flows. (Crowdfundinsider)