The single highest-turnover week in our tracked history isn't some quiet, stable peak. It's the week of October 20, 2025: $752.0 million traded, 17.84 million individual sales. The second-highest week on record sits right next to it, October 27, 2025, at $730.2 million. Two of the top three weeks by turnover, ever, are the two weeks that bracket the October 2025 crash.
Panic looks like volume
It's tempting to read record trading volume as a sign of a healthy, booming market. Sometimes it is. This time, the record volume is the panic itself. The market cap index shows the actual break happening mid-week: a single-day drop of 28.8% on October 23, the worst day on record, followed two days later by the best day on record, +21.7% on October 25, as prices found a floor and bargain buyers stepped in. All of that volatility landed inside the same record-breaking trading week.
What the week before and after looked like
The week immediately prior, October 13, 2025, was itself no slouch at $482.8 million, already elevated versus the market's typical run rate. Two weeks after the crash, turnover was still elevated at $534.9 million (week of November 3) and $519.7 million (November 10), well above pre-crash norms even as the market cap itself sat meaningfully lower. Volume stayed high for weeks after the price shock, consistent with a market working through forced selling and repositioning rather than one big single-day event.
The takeaway
Trading volume alone doesn't tell you whether a market is healthy or panicking, you have to look at what price is doing at the same time. The week CS2's market moved the most money in its history is the same week it lost more value in a single day than at any other point on record. Records for activity and records for damage turned out to be the same week.
