Market Share of Decentralized Exchanges (DEXs)

The market share of decentralized exchanges (DEXs) in comparison to centralized exchanges (CEXs) has reached an all-time high.

According to The Block’s Data Dashboard, the monthly trade volume of DEXs relative to CEXs is at an unprecedented 14.22%. This surpasses the previous record high of 13.7% from May 2023.

Currently, DEX volume is at $139.67 billion, although July’s data is still incomplete at the time of this publication. Uniswap leads the ranking with a monthly trading volume of $48.52 billion, followed by Raydium with $27.78 billion in July.

The DeFi analytics platform DeFiLlama reports that Uniswap is the largest DEX based on total value locked (TVL), which stands at $5.585 billion. Curve Finance follows with a TVL of $2.029 billion, while PancakeSwap and Raydium have $1.825 billion and $1.259 billion respectively.

Uniswap’s native token, UNI, is currently trading at $7.77, reflecting a 2.31% increase over the past 24 hours.