Home
News
Decentralized exchanges or DEXs have seen notable growth as the entire ecosystem garnered mainstream attention. Notably, DEX’s volumes have become very prominent since the beginning of this year. Some of the platforms have been dealing with volumes that are sizable to large centralized cryptocurrency exchanges. It has been observed that over the past seven days, Ether-based crypto assets exchange platforms processed $21 billion worth transactions. Notably, among the platforms, Uniswap is leading, capturing 71% of all.
Decentralized exchanges saw new highs in 2021
TheBlock Research has recently shared some metrics related to the performance of decentralized exchanges. The data shows that such platforms saw $1 trillion in volume during the course of this year.
DEXs have grown a great deal in 2021. As the year is about to wind up, there’s more than $250 billion of value locked in decentralized finance (DeFi) protocols. The research study also highlights that out of all the blockchain-based platforms of this kind, Uniswap commands the most of the volume with about $1.45 billion.
Furthermore, the report also suggested that Uniswap has about $8.8 billion in TVL which is just below the $22.3 billion in TVL held by Curve Finance.
DEX volumes are spiking notably
Larry Cermak, the vice president of research at TheBlockCrypto has noted that the legitimate volume index, the spot volume has grown incredibly. According to the report, the volume this year surpassed $14.5 trillion. Notably, the figure is about 8 folds larger than the last volume we saw last year.
Moreover, the data showed that trading volume on decentralized exchanges reported over $1 trillion in trade volume this year. Overall, the monthly volume spiked in may, and the most considerable month-over-month growth was in January. However, the volume has not fully recovered from the May crash.
DEX aggregators have also performed well
In addition to the decentralized exchange volume, the study report also underscored the use of these platform’s aggregators. According to the study, these DEXs aggregators like 1Inch are representing about 14% of the overall volumes. Notably, 1Inch has been one of the leading aggregators throughout the year. The platform has a share of about 65% which has been followed by 0x API (Matcha) at near 17%.
