According to CryptoRank monitoring, Ethereum DEX spot trading volume in July dropped to $29 billion, down 76% from the all-time high of $122 billion set in August 2025. It has now returned to October 2023 levels. The monthly trading volume is declining by an average of 12.5%. If this trend continues, it is expected to reach a 5-year low of $21.2 billion in about 3 months.