Monthly Trading Volume Surge

Monthly trading volume on decentralized exchanges (DEX) reached a new all-time high in December, according to The Block’s data dashboard.

DEX Volume Records

December’s total DEX volume reached $320.5 billion, surpassing the previous record of $299.6 billion set in November.

• Uniswap topped the list with over $103 billion in trading volume.
• PancakeSwap followed with $72 billion.
• Raydium, the largest DEX on Solana, ranked third with $54.6 billion.
• Aerodrome and Curve also featured prominently in the rankings.

Rise in CEX Volume

Simultaneously, monthly spot trading volume on centralized exchanges (CEX) reached its highest level since May 2021. The monthly spot volume jumped 137% from October to November, reflecting positive market sentiment after pro-crypto candidate Donald Trump’s reelection as U.S. President.

The Block’s data indicates that spot trading volume reached $2.78 trillion in December, with Binance accounting for nearly $950 billion. Other platforms like Crypto.com, Upbit, Bybit, and Coinbase processed hundreds of billions of dollars worth of crypto volume as well.

“The surge in DEX and CEX volumes reflects renewed activity across the crypto market, driven by recent increases in volatility, growing trust in DeFi ecosystems, and improved liquidity and trading tools on centralized exchanges,” stated Neal Wen of Kronos Research.