DEX Fees Plunge to $413M in Q2 2026, Down 83% From Peak
Quarterly DEX fees just printed their lowest reading since 2023, the clearest signal yet that on-chain trading monetization has stalled well below the cycle high.
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Quarterly DEX fees just printed their lowest reading since 2023, the clearest signal yet that on-chain trading monetization has stalled well below the cycle high.
Kalshi recorded $5.1 billion in trading volume during the opening week of the FIFA World Cup, a record for the…
XRP broke above $1.20 on June 14 with an 8% surge, climbing from $1.1425 to $1.2307 on its strongest single-session…
A modest pullback in the ratio, but the narrative behind it — fading DeFi speculation, lighter retail onchain activity, and a year of large protocol exploits — points to liquidity concentration on…
The share move from 2.9% to 8.0% looks small in absolute terms, but it was carved almost entirely out of spot — a structural re-routing of retail flow onchain, not a CEX bleed.
The headline figure is a 9.6% month-over-month drop and the weakest reading since October 2024, but the deceleration in the slide itself is the cleaner signal for positioning.
Altcoin momentum is building in a measurable way: the 30-day trading volume average has crossed above the yearly…
Across spot, derivatives, and website traffic, the only segment that didn't shrink was on-chain DEX trading — a quiet rotation back to trustless rails as the CEX complex cools.
Grayscale's ZCSH traded past $2M in a single day while shielded supply climbed to ~30% of ZEC's float — two signals that rarely line up, pointing to a structural rather than speculative bid for…