Here’s Why Ethereum’s DEX Volume Crashed in October

In brief

  • In early October Sam Bankman-Fried, the CEO of FTX, which operates the decentralized crypto exchange Serum, predicted that a surge in trading volume on Ethereum-based DEXes wouldn’t last.
  • Volume fell sharply across DEXes in October.
  • On Decrypt’s podcast, he explained how he identified what he calls “fake volume”.

At the LA Blockchain Summit in early October, Sam Bankman-Fried, the CEO of crypto exchange FTX, said that a summer surge in volume on Ethereum-based DEXes was…

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