According to CoinMeta, as monitored by cryptorank, the total spot trading volume of Ethereum in July dropped to $29 billion, which is 76% lower than the historical high of $122 billion set in August 2025. It has now returned to the level seen in October 2023, with a monthly average decline in trading volume of 12.5%. If this trend continues, it is estimated that it will take about another three months to reach the five-year low of $21.2 billion.