Overview
- XRP, BNB, SOL and ADA posted their weakest monthly trading volumes of 2025 in December, according to a CryptoQuant analysis published Dec. 29.
- Liquidity was heavily concentrated on Binance, which accounted for roughly $12.3 billion of XRP’s ~$32 billion, $12.6 billion of BNB’s ~$13.7 billion, $23.1 billion of SOL’s ~$43 billion, and $1.87 billion of ADA’s ~$3.8 billion.
- More than $2.68 billion in USDC left Binance on Ethereum between Nov. 24 and Dec. 22, reducing near-term buying power on exchanges, CryptoOnChain data shows.
- Analysts describe the slump as caution and thinning liquidity rather than forced selling, with expectations that volumes stay muted until Bitcoin establishes a clearer trend.
- Bitcoin metrics are mixed, with an MVRV Z-Score near -0.24 suggesting proximity to undervaluation even as Binary CDD points to long-term holder distribution patterns seen before past corrections.