Ethereum DEX Activity Dominated by Bots as Spot ETH Trades Reach Record $519 Billion in August

Trading activity on Ethereum’s decentralized exchanges (DEXs) saw a significant increase in August, with trading volume hitting a record $74 billion for the month. An analysis by crypto exchange CEX.IO revealed that bots were responsible for over 73% of DEX trading volume during this period, marking their highest share in 2025.

The surge in trading volumes was largely driven by traders reallocating their funds towards ETH at the expense of other cryptocurrencies like Bitcoin. In fact, trading volumes for ETH on centralized exchanges reached an impressive $519 billion in August, reflecting a 55% increase from the previous month.

Ethereum’s network also saw a surge in activity, with monthly active addresses reaching 9.6 million and transactions hitting 51.8 million. Despite this spike, average transaction fees fell by nearly 40% to just $0.20, making it more cost-effective for users to trade on the platform.

While the decrease in fees was beneficial for traders, it also enabled bots to operate more efficiently and contribute to the uptick in DEX volumes. Although bots have been associated with suspicious trading practices like frontrunning and sandwich attacks, analysts suggest that they are playing a more constructive role in the market.

Automated trading systems are providing constant liquidity and executing trades at scale, which, in turn, helps to improve market efficiency and accelerate stablecoin adoption. This not only enhances the performance of DEXs but also benefits users and protocols in the long run.

However, it is important to note that not all bots are operating ethically. A report by Chainalysis in early 2025 revealed that a significant number of addresses were linked to potential wash trading across Ethereum, BNB Chain, and Base. Some high-volume addresses were responsible for nearly half of the $2.57 billion in flagged trades, indicating possible market manipulation.

In addition, around 3.6% of tokens launched in 2024 exhibited patterns suggestive of pump-and-dump schemes, with many suspicious DEX pools being abandoned within a week. Despite the presence of these unethical practices, automated trading systems continue to play a crucial role in enhancing liquidity and market efficiency.

In conclusion, the surge in trading volumes on Ethereum’s DEXs in August reflects the growing popularity of decentralized trading platforms. While bots are playing a significant role in boosting liquidity and improving market efficiency, it is essential for stakeholders to remain vigilant against potential instances of market manipulation and fraudulent trading activities.