As is often the case, a single statistic is meaningless unless context is provided. In this case, what is the normal volume for the Nasdaq? If it is 5B trades on a normal day, then this is truly nonsense.
I see that S&P500 is at 950M, now. But I do not know if it is normal for Nasdaq to have higher, or lower, trading rates than the S&P500.
S&P trades 5 billion a day on average.
To try and put it in context look at a typical chart.
Along the bottom is charted volume.
Todays volume is not typical but also not unheard of.
It also depends on how closely you gander.
change the length of the chart and the overall impressions change.
https://finance.yahoo.com/quote/%5EIXIC?p=%5EIXIC