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Decentralized Exchanges (DEX) break historical volume record
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The cryptocurrency market ended December with trading records in decentralized exchanges (DEX)recording a monthly volume of US$320.5 billionaccording to The Block’s data dashboard. This number surpassed the previous record of US$299.6 billionachieved in November.
Among decentralized exchanges, Uniswap (UNI), as usual, led the trading volume, moving more than US$103 billion in December.
Secondly, was the PancakeSwap (CAKE)which registered a volume of US$72 billion. Meanwhile, the Raydiumthe main DEX on the Solana network, came third, with US$54.6 billion.
Other platforms like Aerodrome ($27.65 billion) and ORCA ($22.31 billion) were also present in the ranking. The 15 other decentralized exchanges, including Curve, moved US$326.35 billion.
The volume of spot trading in centralized exchanges (CEX) also reached its highest level since May 2021. In December, total volume reached US$2.78 trillionrepresenting a leap in 137% in relation to the period from October to November.
THE Binance led the centralized market, processing around US$961 billion in monthly volume. Other platforms like Crypto.com ($305 billion), Upbit ($273 billion), Bybit ($246 billion) and Coinbase ($183 billion) they also moved hundreds of billions of dollars during the month.
According to Neal Wen of Kronos Research, the growth in DEX and CEX volumes reflects a combination of factors, including:
Furthermore, the positive sentiment in the market was driven by re-election of pro-crypto candidate Donald Trump as US presidentwhich brought optimism to investors and greater trading activity in several segments.
Decentralized Exchanges (DEX) break historical volume record
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Decentralized Exchanges (DEX) break historical volume record
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Decentralized Exchanges (DEX) break historical volume record
