I think the shift of attention from major exchanges is a good thing. It would make it easier for smaller exchanges to grow, and in particular for DEXs to be used more. That would also mean that there may not be much sell orders as compared to previous times. A bull run might just be lurking.
The OP was hinting that trade volume across the exchanges were falling, and smaller exchanges and DEX sites are no exception. The declining prices of altcoins means that fewer and fewer traders are converting their BTC to altcoins or trading with them. Also, BTC exchange rates are rising and therefore less number of users are converting their crypto to USDT.
There is some interesting news from the cryptocurrency market. During the past 24 hours, the Bitcoin dominance has declined from 71.2% to 69.9%. This will give some breathing room for the alts, although I am not sure how long this phase is going to last. In the long term, I don't have much hope for the vast majority of the altcoins and tokens.