Ethereum-based DEX TVL has dropped 88% from its November 2021 peak of $44 billion to just $5 billion today.

In contrast, the overall TVL of the Ethereum Layer 1 ecosystem has climbed past $200 billion. Notably, stablecoins make up about 65%.

https://thedefiant.io/news/defi/ethereum-dex-tvl-plunges-88-from-2021-peak-token-terminal?utm_source=X&utm_medium=Organic_Social