ETH price prospects dim as Ethereum DEX volumes drop 34% in a week

On March 9, ETH price dipped below 2,200 USD, marking a 14% decline in March amid a 34% drop in DEX volumes. This trend raises concerns about investor confidence, as major competitors see increasing activity, particularly BNB Chain, which recorded a 27% rise in volumes.

Ethereum’s total value locked is at 47.2 billion USD, down by 9% week-over-week, indicating declining interest. Additionally, the annualized ETH futures premium is at 3%, the lowest in over a year, reflecting waning demand from traders and highlighting the competitive market landscape.