Crypto Traders Flee Risk as DEX Volumes Plummet to 2024 Lows

Crypto DEX volumes have hit their lowest levels in 2024 as traders retreat from risk, according to data from Blockworks.

The weekly Spot DEX Volume fell to $30.44 billion between August 3rd and 9th, marking its lowest level since September 23rd-29th when it stood at $29.26 billion.

Solana, Ethereum, and BNB Chain recorded the highest daily trading volumes among tracked networks, but even this activity was not enough to stem the decline in overall participation.

The decline in Spot DEX volume was mirrored in Perpetual market activity, with Perpetual DEX Futures Notional Volume falling to $84.23 billion, its lowest weekly level of the year.