Crypto Currency News

The volume of decentralized exchanges already exceeds a trillion dollars

Uniswap leads the DEX market

One billion dollars. Yes. That is the number that decentralized exchanges (dex) exceeded in 2021 in traded / traded volume. Additionally, over the past seven days, Ethereum-based dex platforms processed $ 21 billion, with Uniswap capturing 71% of all dex (Ethereum-based) applications.

No one is surprised by the growth of decentralized finance (defi). Defillama.com reports assure that as the end of 2021 approaches, there is more than 250,000 million dollars of value locked in defi protocols. The metrics further indicate that of all the dex applications, Uniswap is the one with the highest volume, at $ 1.45 billion today. The data also shows that Uniswap has approximately $ 8.81 billion of total locked value (TVL), which is just below Curve Finance’s $ 22.36 billion of TVL.

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According to data from the 2022 Digital Asset Outlook report, monthly dex volume peaked in May 2021, at $ 162.8 billion, and the most significant month-on-month growth occurred in January, with an increase of 137.3%. However, volume has not fully recovered from the May crash, and the ratio of dex volume to spot volume for centralized exchanges remained below 10% throughout the year.

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