DEX market share surges to record high, outpacing centralized exchanges

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The Block2024/07/29 19:10

By:The Block

Quick Take The monthly trade volume of DEXs relative to CEXs is already the highest it has ever been at 14.22%. The previous record high occurred in May 2023 at 13.7%.

The market share of decentralized exchanges (DEXs) compared to centralized exchanges (CEXs) has hit an all-time high.

According to The Block's Data Dashboard , the monthly trade volume of DEXs relative to CEXs is already at its highest ever, at 14.22%. The previous record high occurred in May 2023 at 13.7%.

DEX volume currently stands at $139.67 billion , though July's data remains incomplete as of publication. Uniswap brought in the most monthly trading volume at $48.52 billion, with Raydium entering second with $27.78 billion in July.

The DeFi data tracking platform DeFiLlama found that Uniswap is the largest DEX by total value locked (TVL) at $5.585 billion. Curve Finance maintains a $2.029 billion TVL, followed by PancakeSwap’s $1.825 billion and Raydium’s $1.259 billion.

According to The Block Prices, Uniswap's native token UNI traded at $7.77, having increased by 2.31% in the past 24 hours.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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