As of December 26, the performance of leading global exchanges in spot trading has been impressive. According to CoinGecko data, the total spot trading volume in the past 24 hours was approximately $10.1 billion, a slight increase of 0.45% compared to the previous period, continuing to lead the global exchange rankings. Among them, the BTC/FDUSD trading pair was the most active, with single-pair transactions exceeding $1.3 billion, fully reflecting Bitcoin's absolute dominance in the market.

Trading activity clearly rebounded after the holidays, and the overall market liquidity improved. However, volatility remained low—this indicates that current market participants are adopting a cautious attitude.

Notably, on December 25, the BTC/USD1 trading pair experienced an extreme dip to $24,000 before quickly rebounding to around $87,000. This incident was caused by insufficient liquidity in emerging stablecoin pairs. Although it did not trigger systemic shocks, it serves as a reminder for traders to exercise extra caution when participating in less liquid currency pairs.

At the platform level, recent efforts to optimize liquidity are ongoing. On the 26th, some spot trading pairs were delisted to concentrate liquidity resources; earlier, on the 24th, five new trading pairs were added, including ADA/USD1, ASTER/USD1, and others, along with the launch of KGST/USDT, exploring new stablecoin application scenarios. These adjustments aim to enhance trading efficiency on the platform and stimulate trading activity in emerging assets. As the year-end approaches, the trend of structural optimization in the crypto market is evident, with the spot sector continuously attracting increased traffic.