Major altcoins ended saw December trading volumes sink to 2025 lows as stablecoin outflows from exchanges rose and traders stayed cautious.
Summary
- XRP, BNB, SOL, and ADA recorded their lowest trading volumes of 2025 in December
- Binance remains the main liquidity hub despite overall participation declining
- Stablecoin outflows and mixed Bitcoin signals are keeping traders cautious
Altcoin trading activity has slowed sharply in December, with volumes across major tokens slipping to their weakest levels of the year. Data from multiple on-chain analysts shows traders stepping back as liquidity thins and uncertainty around Bitcoin’s next move continues to dominate market behavior.
Spot volumes slide as traders stay on the sidelines
According to a Dec. 29 analysis by CryptoQuant contributor Arab Chain, real-time spot trading volumes for major altcoins fell to their lowest levels of 2025 during December.
XRP recorded about $32 billion in trading volume across major exchanges, its weakest showing this year. Roughly $12.3 billion of that activity came from Binance, highlighting how liquidity remains concentrated even as overall participation drops.
Similar trends were seen with BNB, which reported a volume of about $13.7 billion, of which $12.6 billion came from Binance alone. Solana saw its lowest real-time trading activity on major exchanges since 2024, with a total volume of about $43 billion, including $23.1 billion on Binance.
Cardano also lagged, with trading volume near $3.8 billion, of which $1.87 billion came from Binance. Across the board, lower volumes point to hesitation rather than aggressive selling, as traders wait for clearer signals from Bitcoin before increasing exposure.
Liquidity shifts and Bitcoin uncertainty weigh on sentiment
A separate on-chain analysis from CryptoOnChain adds another layer to the picture. Over $2.68 billion in USDC left Binance on the Ethereum network between Nov. 24 and Dec. 22. Late November saw the biggest one-week withdrawal of $1.35 billion, and withdrawals remained consistent through December.
When stablecoins leave exchanges in large amounts, it usually means there’s less cash sitting around ready to buy in the short term. That naturally cools immediate demand for both Bitcoin and altcoins. The scale of this outflow also hints that bigger players are involved, possibly moving funds into cold wallets, DeFi platforms, or simply taking a more cautious, risk-off approach.
On-chain signals for Bitcoin are still conflicting. BTC’s MVRV Z-Score of –0.24 puts it close to historical undervaluation zones, suggesting potential stabilization, according to CryptoQuant analyst GugaOnChain. Simultaneously, Binary CDD data reveals recurring distribution patterns from long-term holders, which in previous cycles preceded multi-month corrections.
When considered collectively, the data indicates that altcoins are still under pressure because of caution rather than panic. Trading volumes for XRP, BNB, SOL, and ADA may remain low until Bitcoin takes a more defined course.
