The world's top crypto exchanges have experienced a significant drop in trading volumes over the past 24 hours, likely due to the fallout from the US Securities and Exchange Commission's crackdown on crypto exchanges.

However, this decline may be viewed positively as it suggests that the exchange exodus has subsided. According to CoinMarketCap, the trading volume of the top nine crypto exchanges has fallen by 30% to 55% in the past 24 hours.

Binance, Coinbase, Kraken, Bitstamp, and Bitfinex have all seen trading volumes slump by more than 50%. Despite this, total trading volumes have returned to pre-SEC crackdown levels, and total capitalization has remained mostly flat over the weekend.