DEX Volume Explodes to $43.5 Billion in Just Over a Year

2021-1-27 19:49

Decentralized exchanges (DEX) have continued to gain appeal among market participants within the cryptocurrency industry. This growing attention has led to rapid trading volume growth.

Decentralized Exchanges Take Off

Statistics from Ethereum-based on-chain data aggregator, Dune Analytics, show that DEXs are yet to lose momentum. The cumulative monthly volume on these platforms skyrocketed from a meager $39.5 million to $45.2 billion in less than two years. 

Monthly DEX volume: Dune analytics

During this time, DEX platforms have evolved. And many more players have emerged in the space. There were less than five active exchanges in January 2019.

At this time, IDEX dominated the market with over 70% of the entire monthly volume, which amounted to over $34 million. Uniswap and Kyber shared the rest of the spoils.

Meanwhile, Uniswap, which currently dominates the DEX ecosystem, had a monthly volume of $973,30 at the beginning of 2019. This market share was less than 30% of the total trading volume at the time.

Monthly volumes on decentralized exchanges in January 2020 sits above $45.2 billion. This represents a new milestone and exponential growth as users become more familiar with the tech. 

Uniswap Takes the Lead

The current monthly trading volume has also dwarfed the yearly record. Although Uniswap had already begun to steal market share in January 2020, it was still behind Synthetix. Total trading volume back then stood around $1.03 billion.

Currently, the cumulative volume traded monthly on DEXs has increased by over 1,000% since 2019. Uniswap has eaten up a considerable portion of the market. Data reveals that it has maintained about 47% of the weekly DEX volume:

DEX by volume: Duneanalytics

SushiSwap and Curve, with a weekly volume of almost $3 billion and $1.4 billion, take second and third place.

DeFi Vs. DEXes

Transaction sizes carried out on these platforms have almost doubled from their previous record in September 2020. This growth spurt coincides with the Decentralized Finance (DeFi) boom.

IntoTheBlock, another on-chain data analytics firm, adds credence to how DeFi has contributed to the expansion of DEX platforms. The DeFi tokens aggregate market cap reveals impressive figures. 

Since the beginning of the year, the ecosystem has enjoyed steady growth, with Uniswap also topping the chart. As of Jan. 10, the DeFi market cap recorded its highest valuation.

Data from DeFi pulse also reflects this growth as the Total Value Locked within this ecosystem is over $25 billion. This amounts to a 40% increase since the end of last year.

The post DEX Volume Explodes to $43.5 Billion in Just Over a Year appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Volume Network (VOL) на Currencies.ru

$ 0.0001001 (-0.02%)
Объем 24H $0
Изменеия 24h: 0.10 %, 7d: 0.11 %
Cегодня L: $0.0001001 - H: $0.0001001
Капитализация $0 Rank 3549
Доступно / Всего 0 VOL

volume yet momentum lose dexs show monthly

volume yet → Результатов: 126


Фото:

Chainlink Hits Yet Another All-Time High, Tops Ethereum’s Search Volume

Both fundamentally and technically, Chainlink (LINK) is Bullish on all levels. Yesterday it was reported that LINK had made another record-breaking move to become the 8th largest cryptocurrency by market capitalization, and while Chainlink saw a slight decline in market cap bringing it down to the 9th place, LINK still closed as one of the […]

2020-7-15 18:04


Bitcoin trading to USDT drops by nearly a quarter

Stablecoins volume have dropped. In the month of September as Bitcoin’s price took a tumble, so did the stablecoins. Seen to serve different sectors of the market, some as a trading hedge, some as a trading pair, or some as a crypto-investment bridge, stablecoins have a multitude of purposes, yet their use, in a sluggish […] The post Bitcoin trading to USDT drops by nearly a quarter appeared first on AMBCrypto.

2019-10-22 17:30


Exchange Volumes on the Decline Since 2017 All-Time-Highs

As per data tracking service TokenAnalyst, exchange volumes have yet to recover to 2017 levels despite various media reports that early 2019 saw the highest amount of exchange-traded volume. According to Bloomberg, this is a signal of negative retail sentiment, however, the analysis is focused on unique addresses sending money into exchange, not cumulative inflow,Read MoreRead More.

2019-9-7 01:00