The recent surge in cryptocurrency markets over the last month seems to have spilled over into the realm of decentralized finance (DeFi).
The trading volume on decentralized exchanges (DEX) has traditionally been considerably lower than that of centralized exchanges (CEX). However, the recent market rally has led to increased activity, albeit at a somewhat slower pace.
DEX Trading Volume Picks Up Pace
According to research from Kaiko, major platforms such as Uniswap and Curve on the Ethereum blockchain, as well as Pancakeswap on the Binance Smart Chain, have noted a surge in activity.
In November, the monthly trade volume on DEXs rebounded to $29 billion, recovering from a multi-year low experienced in September. Despite this improvement, it still falls significantly short of the all-time high of over $124 billion recorded in May 2021. The market share of DEX trade volume compared to CEX has also declined over the past year, dropping to just 3% in November, down from 5% in January.
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We współpracy z: https://cryptopotato.com/decentralized-exchanges-bounce-back-29-billion-traded-in-november/
