A drawdown for DEXs: Traders on Ethereum hits lowest level since February

The number of DEX traders on Ethereum has fallen from over 95,000 to 63,000, marking the lowest number of traders since February.

The number of DEX traders on Ethereum has fallen from over 95,000 at the beginning of the month to just 63,000 last week, marking the lowest number of traders since February.

Ethereum was actually challenged for dominance during much of this rally, as networks that offered cheaper trading attracted a lot of attention and hosted some of the most popular new tokens of the rally. And it does seem like the trend on Ethereum is a sign of a broader slowdown in the decentralized exchange market.

And while spot volume on CEXs picked up in mid-April, primarily because of a sell-off in assets due to fears over Middle Eastern conflict, it seems that DEXs did not see the same rebound.

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