Uniswap Leads as Decentralized Exchange Trading Volume Surges

Recent statistics indicate that the trading volume on decentralized exchange (dex) platforms increased by $9.76 billion in October compared to September. The volume for October amounted to $39.98 billion, a marginal amount that exceeded the $39.52 billion recorded in August.

At the end of the initial week of November 2023, dex platforms recorded a total of $15 billion in transactions, signifying a more robust volume that accounts for 37.51% of the total volume observed during the corresponding seven-day period in October.

Uniswap held a dominant position in October’s dex volume, which totaled $39.98 billion, with $26.86 billion, or 67% of the month’s volume.

Thus far in November, Uniswap has dominated with $9.10 billion of the $15 billion traded, or 60% of the volume, accumulated from November 1 to November 7, 2023.

During the same seven-day period, Curve Finance recorded $732 million, and Pancakeswap recorded $2.56 billion. 57.7% of all dex trade activity transpired on the Ethereum blockchain, which is noteworthy.

BNB secured just over 20%, while Arbitrum secured just over 15%, according to blockchain share dex trade activity over the past week. In trading volumes over the previous week, Maverick surpassed $541 million, Balancer $506 million, and Dodo $360 million.

A total of $283 million was recorded by Quickswap, $188 million was reached by Kyberswap, and $152 million was accumulated by Trader Joe to round out the ten dex platforms ranked by seven-day trade volume.

While there has been a rise in dex trade volumes over the past week, they still fall short of the daily trading volumes that peaked on October 9, 11, and 13.