Decentralized Exchanges (DEXs) Reach Record-Breaking Trading Volume
Decentralized exchanges (DEXs) witnessed an unprecedented surge in trading volume in December, reaching an all-time high of $463 billion, as reported by DefiLlama. This milestone underscores the continuous growth of the DeFi sector, which has shown consistent momentum in the final quarter of the year.
Surge in Trading Volumes
- In October, trading volumes on DEXs started at $194.74 billion
- In November, the volume increased to $374 billion
- December saw a record-breaking figure of $463 billion
Leading Blockchain Networks for DEX Trading
Among the blockchain networks, Solana emerged as the top performer, handling $115 billion in transactions. Binance Smart Chain (BSC) closely followed with $98 billion, marking its highest monthly volume. Ethereum-based DEXs processed $88.47 billion, while the Coinbase-backed Base network recorded $52 billion in trades.
Significant Players in the DeFi Ecosystem
Arbitrum, an Ethereum layer-2 network, facilitated $33.8 billion in trading volume, solidifying its position as a key player in the DeFi ecosystem. Individual platforms also made their mark, with Uniswap leading the pack at $106.4 billion in trading volume. PancakeSwap ranked second with $96.4 billion, and Raydium secured third place with $58 billion in transactions.
Top 5 DEX Volume
The top five DEXs were completed by Aerodrome and Orca, processing $31.03 billion and $22.8 billion in trades, respectively.
