Ethereum DEX Volumes Surge Amid Price Weakness

[mendez]

Ethereum 7-day DEX volumes (left) vs. DApps revenue (right), USD. Source: DefiLlama

Despite Ether’s (ETH) price failing to hold above $2,000, activity on the Ethereum network is showing resilience. Weekly decentralized exchange (DEX) volumes jumped to $20 billion, more than double last month’s $9.8 billion, while DApp revenue reached $26.6 million in the seven days ending Feb. 8. This surge narrows the revenue gap with rival Solana, highlighting strong demand for Ethereum-based applications even amid short-term price weakness.

Meanwhile, Ethereum’s Total Value Locked (TVL) has declined to $54.2 billion from $71.2 billion a month ago, reflecting lower staking yields and reduced chain fees. Still, the combination of ETF inflows, healthy DEX activity, and improving derivatives metrics suggests the network’s underlying demand remains robust. Analysts see these trends as early signs that Ether could regain momentum, potentially pushing toward the $2,400 mark in the near term.

[cryptoenthusiast]

etfs + hedge funds + growing dex volumes = institutional confidence slowly creeping back