DEX Trading Volume Hits Two-Year Low Amid Crypto Market Volatility
Decentralized exchange (DEX) spot trading volume plummeted to its lowest point in nearly two years, falling by 26% in July to approximately $130.77 billion.
This represents a stark decline from June's $177.55 billion and is the weakest monthly reading since September 2024, according to Blockworks' spot DEX dashboard, which tracks activity across 35 blockchains.
Stablecoin supply also saw a significant contraction of $2.23 billion this month, dropping to around $308.47 billion on DeFiLlama's tracker, despite the overall crypto market value increasing by roughly $192 billion (11%) in July.