Monthly trading volume on decentralized exchanges (DEXs) reached a record $320.5 billion in December, marking a notable increase from November’s $299.6 billion. This achievement underscores a trend where more cryptocurrencies are listed exclusively on DEXs, reflecting a significant shift in market dynamics.
Uniswap emerged as the leader in DEX trading with over $103 billion in volume, followed by PancakeSwap with $72 billion and Raydium with $54.6 billion. These numbers demonstrate the growing importance of DEXs in the cryptocurrency world, driven by popular tokens and exclusive listings.
Spot trading volume on centralized exchanges (CEXs) also saw a rise, hitting its highest level since May 2021 with $2.78 trillion. Factors contributing to this surge include increased market volatility and post-election Optimism, significantly impacting trading activities on both DEXs and CEXs.