DEX monthly volumes have dropped for the first time since April 2020, according to data from DeFi platform Dune Analytics as of November 2 2020.
- October 2020 saw the DEX market break away from its growth pattern for the first time in 7 months, with a monthly trading volume of approximately $18.2 billion
- By contrast, September 2020 was the best month for DEXs, logging a record volume of roughly $26 billion
- Trading volume over 30 days has dropped by 26%
- Interest in the DeFi market appears to be waning, with Bitcoin instead showing the highest positive sentiment according to The TIE; individual assets also seeing lower valuations - the DeFi Pulse Index, which tracks major DeFi assets, has dropped 32.66% over the past 30 days
- October did see some notable milestones for the DeFi market: Uniswap surpassed Coinbase Pro in terms of monthly trading volume and a $59 million in revenue generated on dapps
