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Ethereum's DEX Volumes Decline as Interest in NFTs Remains Consistent with Falling Gas Prices

June 23 (Cointime) - Ethereum's daily DEX volume has decreased by 35% over the last month, but its TVL has surged, indicating that dApps and protocols on the network helped sustain value on the protocol. Gas prices on the network have reached a 5-month low, despite the declining DEX volume, indicating that the declining DEX volumes had little impact on the network's overall activity.

Interest in blue-chip NFTs such as Axuji, Crypto Punks, and Bored Ape Yacht Club has declined significantly over the last month, despite a spike in the number of trades in the NFT sector. The price of ETH continued to surge over the last week, leading to an increasing bullish sentiment among traders.

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