Ethereum [ETH] declines on this front; the reason will not surprise you

The share of DEX volume on Ethereum dipped below 70% in April, down from its multi-year peak of nearly 80%, as USDC's depegging shook the DeFi market.

About $4.23 billion worth of trades were settled on Arbitrum last week, as compared to $8.4 billion on Ethereum.Ethereum’s [ETH]

decentralized exchange volume dominance on the 90-day moving average fell in April for the first time since the end of 2021, according to a tweet by blockchain analytics firm Messari. This marked a noticeable shift to layer-2 solutions and other layer-1 chains.The share of DEX volume on Ethereum dipped below 70% in April, down from its multi-year peak of nearly 80%, as2/ For the first time since the end of 21', Ethereum’s 90-day moving average for DEX trading volume is beginning to decrease.

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