Decentralized exchange (DEX) trading activity has reached its lowest point in nearly a year, with first-quarter 2026 volumes mirroring those of March 2025. Over the past week, DEX trading volume totaled approximately $41.07 billion, closely aligning with the $41.6 billion recorded at the end of March 2025. Ethereum experienced a significant decline in trading volume, with DEX volume as a percentage of centralized exchange volume decreasing from over 21% in summer 2025 to 14.1%. Meanwhile, Solana maintained its lead among blockchains, achieving a weekly trading volume of $11.42 billion, driven by ongoing activity on PumpSwap and the launch of new tokens on Pump.fun.