Yes, most of the DeFi projects are currently at big red but, I think the DeFi trend is still far from over. I am seeing so many DeFi projects coming out of the blue and raising a crazy amount of money which tells me DeFi still has a lot of juice left.
Look at the decline in gas prices on the Ethereum network. In recent months, gas prices have dropped significantly. This may indicate a decrease in trading volumes on the Ethereum network. And this can only happen due to a decrease in interest in DEFI projects.
it looks illogical. DeFi may have set an interesting trend. Whether it's over or not, I'm sure it will not affect the decrease in ethereum transaction fees. ethereum has improved their network and it is natural that the movement of transactions is normal and not too pile up which can make transaction fees increase.