DEX Spot Trading Volume Hits Two-Year Low in July

Decentralized exchange (DEX) spot trading volume plummeted to its lowest level in nearly two years, sinking by 26% in July to roughly $130.77 billion.

This decline marks a significant drop from the previous month's $177.55 billion and is the weakest monthly reading since September 2024, according to Blockworks' spot DEX dashboard.

The slide has been building since last autumn, with monthly spot DEX volume running near $231 billion in January and slipping to roughly $206.5 billion by March.

Analysts at K33 Research attribute the drop to a seasonal pattern, describing July as the weakest stretch of the year for Bitcoin trading volumes.