[Analysis: Retail Participation in the Crypto Market Remains Low, Even Fed Rate Cuts May Struggle to Drive Sustainable Growth] Matrixport analyzed in today's chart that retail participation in the current crypto market remains low. Taking the historically retail-dominated South Korean market as an example, the current trading volume shows a significant gap compared to the peaks of December 2023 and 2024: back then, daily trading volumes could reach several billion dollars, whereas now they barely hover around $1 billion. This reflects that retail funds, primarily focused on short-term trading, have yet to flow back significantly. In such a market environment, some newly launched or expanding trading platforms continue to struggle to achieve sustained growth in trading volumes. The pace of some previously high-profile IPO plans has also noticeably slowed. Without broader retail re-entry into the market, even if the Federal Reserve opts for rate cuts in the future, relying solely on monetary policy easing is unlikely to drive a truly sustainable rally. To put it more bluntly, without trading volume, market sentiment is hard to build; without sentiment, trading volume is difficult to expand.