Ethereum DEX volume loses $2B in 7 days: Bad news for ETH?

📆 6/5/2024 5:33 AM
📰 CryptoAmb

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Activity on Ethereum's [ETH] Decentralized Exchanges has been declining for the past seven days, AMBCrypto confirmed. On the 28th of May

Decentralized Exchanges has been declining for the past seven days, AMBCrypto confirmed. On the 28th of May, based on data from Messari, the volume was $3.34 billion.that the DEX volume was down to $1.03 billion— A $2.21 billion decrease. An increase in the volume on DEXes would have implied more liquidity for Ethereum.

The underwhelming price action is one of the reasons some participants share the opinion that Ethereum might not be a significant part of the bull market.As a result, it shows when a cryptocurrency is in bearish or bullish phase. If the score if negative, it means that the asset is in a bear phase. From the chart below, the last time ETH was in such condition was in October 2023, meaning that the token had moved into the bull phase.like in 2017 and 2021 showed that the metric hit. 14.19 and 4.

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