The post DEXs activity expanded in the past month with ongoing meme token boom appeared on BitcoinEthereumNews.com.

Decentralized exchanges (DEXs) keep expanding their presence and rearranging their influence. In the past month, the activity of DEXs continued to grow, with more inflows of users to top platforms.   DEXs activity continued to expand, boosted by a shift to the hottest spots for meme token activity. The balance of influence is also shifting, as Raydium outpaced Uniswap with percentage growth in the past four weeks. Raydium continues to list about 1% of new meme tokens that start out on Pump.Fun.   Raydium has been the leading DEX in the past five months, constantly improving its market share with new listings and the trading of already existing meme tokens.  The closing volumes in August will also give more clarity for the performance of DEXs in H2. In July, DEXs trading expanded to levels not seen since the market peak in March. The Ethereum DEXs ecosystem moved with the rest of the market, with Uniswap reflecting peak market days.  DEXs activity is around 12.2% of the volume on centralized exchanges due to the unofficial nature of liquidity pairs. Trading on DEXs still hinges on whales providing liquidity, with more unpredictable inflows and outflows. User stats on top DEXs over the last 30 days Raydium, Uniswap, and Jupiter are leading with the highest activity during this period Other notable chains include TON, Near, Ronin, and opBNB pic.twitter.com/DTU34nZem8 — Coin98 Analytics (@Coin98Analytics) August 26, 2024 DEXs growth affects underlying networks The Solana ecosystem grew its liquidity in the past months, reflecting the bigger share of meme trading. Tools available for DEX users also shifted, with dedicated routers and block builders taking a large share of the traffic.  The usage of DEXs also affects the working of Ethereum, with more blobs added to each block. The addition of blobs means users have shifted to…

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Filed under: News - @ August 27, 2024 1:26 pm