The report by Alchemy highlighted that incidents following the collapse of Silicon Valley Bank (SVB) in March contributed to less trading volumes across DEXes.
The growing prominence of DEXes was exemplified by the DEX to CEX spot trading volume indicator, which reached its highest value of 19.26% in March.At press time, the total volume across all DEXes over the last seven days was $20.35 billion, marking a weekly increase of over 55%, as per DeFiLlama.
Since the sharp spike of 11 March, trading activity has returned to its normal levels. It was interesting to note that before the USDC depegging saga, the other noticeable jump was observed on 6 November, at the peak of theAdditionally, the DeFi landscape recovered handsomely after suffering numerous blows during the crypto winter of 2022. The total value locked on the DeFi protocols broke through $60 billion at press time, recording a year-to-date growth of more than 45%.
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