By Philip Maina
15 hours agoWed Jan 01 2025 09:00:35
Checking out Time: 2 minutes
The quantity of worth traded on decentralized exchanges (DEXs) in a month has actually reached a brand-new all-time high of $435 billion, breaking November’s high of $375 billion. The majority of the volume originated from Uniswap and Raydium which taped a cumulative trading volume of over $150 billion in December. A regular monthly DEX trading volume above $1 billion was initially tape-recorded in July 2020, a sign of DEXs’ adoption journey in the last 4 years.
Raydium Leads on Solana
According to DeFiLlama, Uniswap leads other DEXs with $106.68 billion followed by Raydium with $58.54 billion in the last 30 days. $62.83 billion of Uniswap’s volume originated from its platform on the Ethereum primary chain, followed by Ethereum layer 2 Arbitrum and Base where it got $22.41 billion and $15.80 billion, respectively.
It likewise signed up a trading volume of over $1 billion on its Polygon, Binance Smart Chain, Optimism, and Avalanche-based clothing. PancakeSwap comes 3rd at $53.23 billion.
The leading 5 DEXs by volume likewise consist of Aerodrome and Orca which have actually tape-recorded $30.93 billion and $ 23.09 billion respectively at the time of composing. Raydium and Aerodrome stick out due to the fact that they run on just one chain, Solana and Ethereum layer 2 network Base.
Raydium’s trading volume increase can be credited to memecoin trading activities with a current report revealing that the majority of Solana-powered DApps’ earnings in November originated from memecoins.
Trading Volume on Ethereum and BSC Drops
Ethereum-based DEXs have actually tape-recorded a volume of somewhat above $93 billion up until now this month while Solana-powered DEXs lead with $120.25 billion.
Ethereum DEXs’ December high is lower than their all-time month-to-month high of $117.62 billion embeded in May 2021. Decentralized exchanges on Binance Smart Chain drew in $55.46 billion, a substantial drop from its $140 billion high tape-recorded in May 2021.
With DEXs’ trading volume striking a brand-new month-to-month peak at over $400 billion, the quantity is anticipated to increase as more individuals welcome decentralized exchanges and as crypto-friendly U.S. President-elect Donald Trump presumes workplace on January 20.
2018, BidPixels