No doubt our volume is LEET. But seriously... why is it so low and so many absolute garbage coins are trading 5x for so long?
A year ago having $1.5 million daily volume on Poloniex was totally decent. Now yes there is way more traders and money on Poloniex. Also now Kraken and Bitfinex volume combine almost match Poloniex volume. So some that traded on Poloniex now moved. But no matter what I said, we should see $5 million daily volumes on Poloniex.
If price discovery is efficient, the volume is lower, but spreads are tighter, so liquidity is better. I think cross-exchange arbitrage is about as good as it can get at these prices. Xmr has far, far better liquidity in the 2-3e8 cap range than BTC did at that stage, in part because of crosses and futures. Yeah, it sucks for vol trading, but it is very good for transactional uses. Xmr is proving itself a workhorse now, after previously demonstrating it's racehorse potential. When will it level up again? Probably when you least expect it. Seriously.