The decentralized exchange (dex)trade volume has reached $17 billion over the 21 Ethereum dex platforms in the past seven days. Pancakeswap also saw between $400K and $860K in 24 hours over the past week. Dex aggregators continue to eat away at dex trade volume, and are becoming more popular every day.
Uniswap has the highest Dex trade volume, with Aggregation APIs accounting for 22% of Ethereum-based Dex volumes.
Every week, decentralized exchange (dex)trading continues to generate billions in swaps. Dex trade volume reached $17 billion in the past seven days across 21 Ethereum-based exchange platforms. The 21 dex platforms received $2.95 billion in global swaps in the last 24 hours and dex aggregators accounted for $3.8 billion in 24-hour volume. According to Dune Analytics stats, 1inch accounts for 22.7% of today’s dex trade volumes.
Pancakeswap (the Binance Smart Chain dex) has also seen an increase of $400K to $860K in trading volume over the past week. CAKE, WBNB and ETH are some of the most traded pairs on Pancakes Wap Thursday. Uniswap, which is based on Ethereum, is the largest of all 21 decentralized exchange volumes that Dune Analytics has recorded. Uniswap captured 65.6%, or more than $11 billion, in global swaps over the course of the week out of an aggregate of $17 billion.
The Top Five Dex Aggregation Platforms Currently Available Are 1inch, 0x API Matcha, Paraswap and Tokenlon
Sushiswap captures $2 Billion or 12% of seven-day dex trading volumes. Sushiswap follows Curve ($1.5B), Curve ($946M), Dodo (585M), Bancor (433M), Balancer ($303M) and Bancor ($433M). Seven-day statistics reveal that Uniswap has the most traders (or unique addresses), with 135,851 transactions recorded on Thursday. The next are 1inch (34.842), Sushiswap (22.220), 0x API (17.627), Paraswap (5.297) and Matcha (4.154).
Trade volume has been impacted by aggregators. These platforms let users choose from multiple dex protocols, and search for the best trades. The top dex aggregator currently is 1inch. 0x API is second. Matcha, Paraswap and Tokenlon are the next dex aggregation platforms. 1inch, the largest dex aggregator, revealed this week that it is introducing an optimistic rollup technology in order to lower fees and reduce network congestion.
What are your thoughts on the top dex platforms captured this week and the seven-day trading volumes? Please comment below to let us know your thoughts on this topic.