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The Defiant 2024-12-30 21:47:09

DEX Trading Volume Hits Record $451 Billion Amid Memecoin Frenzy

Decentralized exchanges (DEXs) reached a record-breaking monthly trading volume of over $450 billion in December. DEXs did $451 billion in trading volume this month, a 19% increase from $380 million in November and a 236% increase from a year ago, according to DeFiLlama data . Uniswap, built on Ethereum, led the pack with $106.4 billion in trades. PancakeSwap, which operates on the BNB Chain, followed with $96.4 billion. Raydium, the largest exchange on the Solana blockchain, took the third spot with $58 billion in trading volume. Aerodrome on Ethereum Layer 2 Base, and Orca on Solana rounded out the top five, with $31 million and $23 million, respectively. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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