On-chain transaction fee revenue plummeted 83%, and the DEX winter is coming colder than expected.

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WuSaidBlockchainW
Wu Says, according to CryptoRank monitoring, the total DEX fee revenue across all networks in the second quarter of 2026 dropped to $413 million, marking the lowest quarterly level since 2023. This figure is down 83% from the peak of $2.41 billion in the first quarter of 2025, reflecting a sustained slowdown in on-chain trading monetization.
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