Decentralized Exchange (DEX) Trading Volume Surpassed $2.5 Billion

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  • A leading data acquisition and analysis company DappRadar recently published a report on top seven decentralized exchanges (DEX) running on the Ethereum network.
  • According to DappRadar’s report, DEX describes a critical component within the DeFi ecosystem.
  • Last year the top DEX dapp was IDEX, which covered a market share of 39.93%.

A leading data acquisition and analysis company DappRadar recently published a report on top seven decentralized exchanges (DEX) running on the Ethereum network.

DEX is an important component within the DeFi ecosystem

According to DappRadar’s report, DEX describes an important component within the DeFi ecosystem. The report states, in the early five months of 2020, DEX has generated a total trading volume of 2.5 Billion USD. However, if we compare it with the first five months of 2019, the total volume generated was 7.04 M USD. There is a significant growth in the trading volume from the past year.

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Last year the top DEX dapp was IDEX, which covered a market share of 39.93%. Moreover, in 2020, Uniswap becomes the leading dapp with a market share of 31.29%. The struggle of Uniswap from 17.44% to 31.29% market share over a year shows its dominance in the DEX ecosystem.

DEX’s are putting their impressions on a decentralized ecosystem

Further, analyzing the Uniswap data over the last one month, the total trading volume is 144M USD. The leading coins of Uniswap are DAI, USDC, and HEX.

Source: dappradar.com

The IDEX has missed its flagship in 2020. It is steadily moving in the graph as compared to January 2020. From the past 30 days, the popular traded tokens on IDEX are QNT, UBT, and ESH.

Source: dappradar.com
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Thus, the growth of DEX over a year portrays that DEX is putting their impressions on a decentralized system. The top three players of the DEX category were Uniswap, Kyber, and IDEX that contributed over 64% growth to the total trading volume.

In 2018, DappRadar was launched to keep track of 2,900 Dapps across multiple blockchains, including Tron, Ethereum, and EOS.

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Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.

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