David Edwards
Weekly trading volume across decentralized exchanges (DEXs) surged 24.67% this week, reaching $39.99 billion as decentralized finance (DeFi) gains momentum. Leading the DEX market, Uniswap recorded $10 billion in trades and holds $1.88 billion in total value locked (TVL), maintaining its top position. Phoenix, a crypto analytics platform, spotlighted Uniswap and other top DEXs on its official X account, underscoring a rising interest in decentralized trading.
Following Uniswap, PancakeSwap and Raydium saw significant activity, with PancakeSwap reporting $6.41 billion in volume and $789.2 million in TVL, while Raydium hit $4.29 billion. Orca and Aerodrome each posted $3.08 billion in trades, and Curve contributed with $1.51 billion, underscoring the market’s vibrant growth and increased competition among DEXs.
The overall market share for DEXs climbed to 24.43%, reflecting users’ growing trust in decentralized financial systems over traditional, centralized models. Smaller exchanges, including DODO, ThorChain, and LFJ, are also contributing significantly with $950 million, $621 million, and $531 million, respectively, further strengthening the decentralized ecosystem’s position within the broader cryptocurrency market.
