CryptoRank: Ethereum DEX Spot Trading Volume Fell to $29B in July, Down 76% From ATH

Spot trading volume on decentralized exchanges (DEXs) operating on the Ethereum blockchain dropped to $29 billion in July, a 76% decline from the all-time high of $122 billion recorded in August 2025, according to data from CryptoRank.

The July total brings Ethereum DEX spot trading activity back to levels last seen in October 2023, based on CryptoRank’s figures.

CryptoRank said spot trading volume has been contracting by an average of 12.5% per month. If that pace continues, monthly volume is projected to fall to approximately $21.2 billion over the next three months, marking the lowest level in five years.

Source: CryptoRank