According to Milk Road, decentralized exchange (DEX) trading volume on the top 5 blockchain networks has dropped sharply by 75% from January's $45 billion per day to around $10 billion per day as of May 2025. The DEX volume even reached a low of $3.4 billion in March, highlighting significant volatility not just in crypto prices but in platform usage as well (source: Milk Road, Twitter, May 17, 2025). This sharp decline in DEX activity signals reduced liquidity and potential challenges for traders seeking tight spreads or large order execution, impacting both short-term trading strategies and broader market sentiment.

According to @overlayprotocol on Twitter, the M2 token by Overlay Network has recently seen increased on-chain activity and trading volume, particularly following its latest protocol upgrade announcement. Data from Dune Analytics confirms a surge in daily active addresses and a 35% rise in M2 trading volume on decentralized exchanges over the past week (source: Dune Analytics, 2024-06-12). Technical analysis from TradingView shows that M2 has breached a key resistance level at $0.24, establishing potential bullish momentum for short-term traders. The Overlay team has also implemented a new risk parameter adjustment, which may affect leveraged trading strategies (source: @overlayprotocol, 2024-06-12). Traders should closely monitor liquidity shifts and upcoming governance votes, as these factors are likely to introduce further volatility into M2 markets.