DEX Trading Activity Picks Up Steam as Markets Spurn Centralization
Decentralized exchange trading activity has begun to pick up steam, with some of the DEX sector’s biggest players booking a notable bump in trading volumes this week. Ethereum-based Uniswap was leading the pack toward the end of the work week in New York, hovering around the 50% mark of total DEX volume, equating to a week-over-week double-digit jump to around $12 billion, data from DeFiLlama shows. Its closest rival, PancakeSwap was holding steady around 8% via the same market cap metric — up about 20% since the week prior, clocking in around $2.1 billion. The DEX still leads on trader count on Binance’s BNB Chain. Notable DEXes Curve and SushiSwap have also seen significant increases in trading volumes, jumping 12% and 63% respectively, in the last seven days through early Friday morning in New York. Average increase for volumes across all DEXes popped 16% or so on the week.
