In July, the spot trading volume on decentralized exchanges (DEX) in relation to centralized ones (CEX) overcame the historical maximum, exceeding 14.3%. This is evidenced by the data from The Block Dashboard.
The previous time, the indicator approached these values in May 2023 at 13.7%.
In monetary terms, the July trading volume on DEX reached $144.2 billion. However, the past month is far from the record $263.7 billion recorded in May 2021.
Uniswap's share has reached $48.52 billion in the last 30 days. Raydium took the second place with an indicator of $27.78 billion.
According to DeFi Llama, Uniswap still ranks first among DEX. The total amount of funds blocked on the platform exceeds $5.58 billion.
Top 10 decentralized exchanges by TVL. Data: DeFi Llama.As for the ratio of futures trading volume on DEX to CEX, the indicator peaked in May at 5.65% (dynamics has been monitored since January 2022). In July, it fell to 5.1%.
Probably, the increase in the share of DEX in the trading volume is due to the popularity of meme tokens. On July 1, the daily income of the Pump platform.fun for launching similar assets based on Solana has reached $1.99 million. The indicator exceeded the value of the Ethereum network ($1.91 million).
Previously, the DEX Screener cryptocurrency data service launched a competing platform called Moonshot.
Recall that in May, Synthetix founder Kane Warwick called memecoins a "valuable" tool for DEX, as they attract non-traditional DeFi traders to the platforms.