Ethereum DEX Volume Surpasses $140 Billion, Indicating Altseason Interest
The cryptocurrency market experienced high volatility recently. Key points include:
- Bitcoin is down 6% in the last 30 days.
- Ethereum gained 22% during the same period.
- Ethereum's monthly decentralized exchange volume reached a record $140 billion in August, surpassing the previous high of $117.6 billion from May 2021.
- This increase indicates strong liquidity and trader confidence despite market fluctuations that caused significant liquidations.
- Engagement on Ethereum-based DEX Uniswap totaled $76.5 billion over the past month.
- The altseason index rose from 24 to 58, indicating a shift in focus towards altcoins.
- If macroeconomic conditions remain stable, Ethereum and altcoins may draw significant investor interest, akin to the 2021 altseason.