According to The Block
In May, the spot trading volume of decentralized cryptocurrency exchanges (DEX) reached 25% of that of centralized exchanges, setting a historical high.
Source: The Block
Data shows that the total transaction volume of DEX in May was $410.2 billion, with PancakeSwap leading at $171.6 billion, followed by Uniswap with approximately $92.1 billion in monthly volume, and both Aerodrome and PumpSwap close to $15 billion.
Comments from Hashed
Simon Kim, CEO and Partner at the cryptocurrency firm Hashed, stated:
According to Kim, DEX has established the “core infrastructure” of the blockchain financial ecosystem, with key advantages including composability, permissionless innovation, and cross-chain interoperability. Kim noted that the recent surge in DEX transaction volume can be attributed to last year’s on-chain trading frenzy of meme coins, many of which were initially launched on DEX. Additionally, improvements in the availability of personal crypto wallets and a decline in trust towards centralized platforms have also fueled the rise of DEX.
Kim predicts that DEX transaction volumes will surpass CEX by 2028 and become mainstream by 2030. He remarked:
Are Stablecoins Primarily Used for Money Laundering? Blockchain Analysis Firm Reports 99% of Stablecoin Transactions Will Be for Legitimate Purposes in 2024.
Table of Contents Toggle Stablecoin Usage Becomes Increasingly Compliant TRM …