Trading on Ethereum decentralized exchanges halved

Activity on Ethereum-based decentralized exchanges (DEX) continues to decline. Coinotag reports that the number of unique daily traders has fallen to 40,000, almost half of the peak of 95,000 recorded in late 2024.

In March 2025, the trading volume hit $57 billion, which is nearly 50% of the $112 billion seen in December. This pattern suggests a decline in speculative enthusiasm and a shift to a more cautious attitude among investors in a volatile market.

Despite this downturn, interest in decentralized trading remains strong. New DEX aggregators such as Bebop and CoWSwap are emerging, while the development of layer-two network solutions still attracts user attention. In addition, more and more traders are exploring alternative blockchains like Solana, as they offer lower costs and faster transaction processing.

Experts suggest that the current decline does not signal the end of Ethereum DEX. This phase does not merely reflect a stagnant period; instead, it indicates a transition in how activities are distributed, and new trading strategies are evolved. Market participants are now actively looking for platforms that provide them with better conditions, as noted by Coinotag.