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SHIB DEX activity on Shibarium's chain has plummeted, with trading volume plummeting 97%
As a second-tier expansion plan of the Shibarium Inu ecosystem, Shibarium's recent decentralized exchange (DEX) activity has dropped significantly, reflecting that the market conditions of SHIB and related platforms have become colder. According to DefiLlama, DEX trading volume on Shibarium has shrunk sharply in the past week, with a drop of 97.46%. Currently, the network's daily DEX transaction volume has dropped to only US$1.81, and user engagement and trading activity have dropped significantly.
This downturn occurs at a time when SHIB and the entire cryptocurrency market continue to be in a bear market stage, and the price of Shiba Inu has also been lingering in a negative range for a long time. Market participants generally adopted a cautious strategy, further reducing their enthusiasm for participating in the Shibarium spot market and DeFi market. Trading activity on the DEX platform on Shibarium dropped sharply, with weekly trading volume falling by more than 97%, and participation levels falling to extremely low levels.
Despite the challenges, analysts believe that a potential recovery in the cryptocurrency market is expected to reactivate the network. Once SHIB regains attention, liquidity may increase and drive a rebound in trading volume on Shibarium's decentralized platform.
TVL rose slightly, but trading volume remained sluggish
Although Shibarium's total lock-in value (TVL) increased slightly despite a significant decline in user activity. In the past 24 hours, TVL rose 0.13% to approximately $102,324. WoodSwap Shibarium currently leads the network in DEX, with a TVL of approximately $86,018, a 3.18% increase in the past 24 hours. Other platforms such as ShibaSwap ($6,893), Shibex ($4,264) and DogSwap ($3,855) lag behind in asset lock-in values.
Shibarium is an Ethereum-based two-tier blockchain designed to improve the scalability, speed up transactions and reduce fees of the Shiba Inu ecosystem, while supporting the operation of DEX and other decentralized applications.
