The post Uniswap Leads the Top Decentralized Exchanges by Weekly Trading Volume appeared on BitcoinEthereumNews.com.

Last week, decentralized exchanges (DEXs) trading saw a marked increase, reaching $39.99 billion. This week’s rate of 24.67% growth signifies the increasing traction of decentralized finance. Among the best performers, Uniswap remained on top with $10 billion in trading volume and $1.88 billion in total value locked (TVL). Phoenix, a crypto media platform, shared the list of top decentralized exchanges (DEXs) by weekly trading volume through its official X account. Uniswap Maintains Surge as DEX Trading Gains 24.67% Uniswap remains the top player in the decentralized exchange market, with its weekly trading volume reaching $10 billion. There is a growing trend towards massive Augmentations. PancakeSwap was well built with $6.41B of weekly volume and a TVL of $789.2M, while Raydium pulled in $4.29B worth of trades. This increase represents a change in the market as users are now using these platforms to hypodense their trades, increase liquidity, and yield farm. Orca, Aerodrome, and Curve also contributed to the weekly increase. Orca recorded $3.08 billion in volume, while Aerodrome and Curve posted $3.08 billion and $1.51 billion, respectively. These exchanges have seen increasing activity, boosted by innovative DeFi solutions that attract retail and institutional participants. The diversity in trading volumes highlights the competitive dynamics within the DEX space, which continues to challenge traditional centralized exchanges. Decentralized Exchanges Expand Market Share to 24.43% Significantly, the overall dominance of decentralized exchanges compared to centralized ones rose to 24.43%, showcasing the growing trust in decentralized systems. This increasing preference for DEXs emphasizes a broader trend toward decentralization in the crypto ecosystem. Furthermore, smaller players such as DODO, ThorChain, and LFJ are gaining traction, contributing over $950M,$621M, and $531M, respectively, in weekly volume. Source: https://blockchainreporter.net/uniswap-leads-the-top-decentralized-exchanges-by-weekly-trading-volume/

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Filed under: News - @ October 4, 2024 3:08 am