DEX Spot Volume Hits Two-Year Low Amid Summer Trading Slump
Decentralized exchange (DEX) spot trading volume has declined significantly in July, reaching its lowest level since September 2024. According to data from Blockworks' spot DEX dashboard, the total volume for the month came in at $130.77 billion, a 26% drop from June's $177.55 billion.
This marks the weakest monthly reading in nearly two years and extends a downward trend that began last autumn. The decline has been observed across all decentralized trading segments, with daily turnover remaining thin throughout July, reaching only $6.191 billion on July 8.
K33 Research analysts attribute the drop to a seasonal pattern, describing it as typical rather than structural. They note that Bitcoin trading volumes tend to slow down during the summer months, and this year is no exception. The firm's data also shows that open interest on CME futures is near multi-year lows, while perpetual futures open interest stands at around 300,000 BTC.