Crypto▼ Bearish
Crypto DEX volumes hit 2024 lows as traders retreat from risk
Spot DEX volume fell to $30.44B, its lowest since Sept 2024. Perp notional hit a 2025 low and the Fear and Greed gauge has held in fear for 30 days.
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Spot trading on decentralized exchanges fell to its lowest weekly level since September 2024. Blockworks data put volume at $30.44 billion for Aug. 3-9, the lowest weekly total since the week of Sept. 23-29, 2024, when it came in at $29.26 billion.
Solana and Ethereum posted the highest daily volumes among the tracked networks, with BNB Chain alongside. Stablecoin swap volume on spot DEXs fell to $5.74 billion for the week, down 75.8% from the year's peak of $23.74 billion, recorded Feb. 2-8. The decline showed weaker activity involving stablecoins, Blockworks said, without establishing whether traders avoided risk assets.
Perpetual DEX futures notional volume, the measure of leveraged trading on decentralized venues, dropped to $84.23 billion, the lowest weekly level of 2025. CoinMarketCap data showed the pullback reached centralized venues too: cumulative weekly perpetual volume across centralized and decentralized exchanges fell 5.35% to $624.66 billion.