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DEX to Hit $100B 12-Month Trading Volume With 1M Traders

DEX to Hit $100B 12-Month Trading Volume With 1M Traders
  • Decentralized exchanges (DEX) are about to reach $100 billion for 12-month trading volume.
  • There are also 986,606 total unique DEX trading addresses.
  • As a matter of fact, popular DeFi exchanges like Uniswap, 0x, and SushiSwap are the leading DEX platforms.

Decentralized exchanges (DEX) are about to reach $100 billion for their 12-month total trading volume, according to Dune Analytics. Consequently, there are also 986,606 total unique trading addresses.

Of all these DEXs, decentralized finance (DeFi) frontrunner Uniswap leads the pack, accounting for at least 100,000 traders. Following Uniswap is its popular fork SushiSwap with 3,315 — a far cry from Uniswap’s number.

Consequently, Uniswap’s 7-day trading volume is at least $2.2 billion. Meanwhile, 0x overtook SushiSwap in the same area, reaching $559 million, whereas the latter only had $403 million. Meanwhile, these exchanges attained over $3.8 billion in trading volume for the last 7 days., and $18.75 billion in the last 30 days.

Source: Dune Analytics
Source: Dune Analytics

As the chart above shows, Uniswap accounts for over 57% of all transactions done in the last 7 days. Additionally, its trading volume for the last 24 hours is $318,547,809. Also, it surpassed popular cryptocurrency exchange Coinbase at least a couple of times before.

However, traders need to check the security of the platform that they will use, since not all are as safe as major DEXs. In fact, a report by Cer Live revealed that the majority of DEXs are unsafe. Aside from Uniswap and Syntetyx, Cer Live wrote that these DEXs also need to prioritize their security.

By and large, at the time of writing, the entire DeFi space has a total value locked (TVL) of $14.93B, according to DeFi Pulse.

Jesus is the Senior Editor of CoinQuora. He's been following the crypto space since 2016, and may possibly do so indefinitely. He covers various blockchain-based developments and crypto market trends.