Decentralized exchange volumes slump for six months to lowest levels since January 2021

Trading volumes connected decentralized exchanges (DEX) person slumped for six consecutive months to their lowest levels since January 2021.

Volume connected DEXs decreased to $44.28 cardinal successful September, the sixth consecutive monthly alteration and the lowest recorded measurement since January 2021, according to DefiLlama data.

Decentralized Exchanges Volume (Source: DeFillama)

During the archetypal 4th of this year, DEXs experienced a surge successful monthly trading activity. This maturation was precipitated by accrued regulatory scrutiny directed astatine their centralized counterparts, including large platforms similar Kraken, Bittrex, Coinbase, and Binance.

As a effect of these regulatory measures, crypto traders migrated their activities towards DEX protocols. In March, trading measurement connected these decentralized platforms reached an awesome $140 billion. However, this spike was short-lived, with volumes plummeting to astir $82 cardinal successful April.

Subsequently, trading activities connected these DEXs person been connected a accordant decline.This diminution tin beryllium attributed to a operation of factors, including wide marketplace conditions and the ongoing regulatory pressures facing the industry.

For context, the U.S. Commodity Futures Trading Commission (CFTC) filed charges against 3 DeFi protocols, including Opyn, Deridex, and ZeroEx. The regulator alleges they illegally offered unregistered derivatives trading products connected their platforms.

Additionally, these platforms person regularly been victims of hacks and exploits, making it hard for users to spot them with their assets.

Uniswap remains the ascendant decentralized speech level contempt the falling measurement crossed the board. The protocol contributes much than 38% of the regular volume, and its cumulative measurement is 3 times higher than its closest rival, PancakeSwap.

Top 3 DEXs. (Source: DeFillama)

Meanwhile, trading enactment connected centralized crypto exchanges is besides seeing a downturn. According to disposable data, trading measurement connected these platforms fell by 26% to $311.93 cardinal successful September, marking the lowest level since November 2020.

The station Decentralized speech volumes slump for six months to lowest levels since January 2021 appeared archetypal connected CryptoSlate.