Top 8 Dex 30d Volume Dropped 20%+, So Did Their Tokens?
The top 8 dex’s 30d volume all dropped, ranging from 20% to 52%. What’s more, all of them have lost traders.
Currently ranking №1 in all dex, the leading Ethereum dex ‘s 30d volume decreased 20.77%.
The dex trading volume started to sink on 19th May ATH, and dropped from $1.81B on 21st June to $911.60M on 25th July. $UNI price has also witnessed a continual fall since May.
The dex with the largest slide in volume on Ethereum is SushiSwap, a tremendous 48.95% dump.
Similarly, the volume dip began on 19th May after a $3.95B ATH. The volume shrunk from $575.98M on 21st June to $176.21M on 25th July. Meanwhile, the $SUSHI price has shown a high correlation to dex trading volume and remained under $10 for more than a month.
Binance Smart Chain’s top 2 dex PancakeSwap and MDEX have both experienced great decline.
PancakeSwap is the dex with the most loss in 30d volume in the top 8 dex, -52.39%.
Since the $2.08B volume ATH on 19th May, PancakeSwap’s dex trading volume has started to decrease significantly. For the past 30 days, its daily volume has just kept at a $100M level. $CAKE token price has also started to drop since May, from $42.46 on 29th Apr to $14.98 on 25th Jul, which showed a similar trend to the dex trading volume.
As for MDEX, its 30d volume dropped by 45.39%.
There’s also been a constant downward trend for MDEX’s trading volume since 19th May. The volume first sharply flopped from ATH $2.70B to $12.60M from May to June, then slightly declined from $751.09M to $323.60M from June to July. $MDX token price moves in the same direction as the volume, which decreased by 23% in 30d.
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Originally published at https://www.dapp.com.
