According to data from DefiLlama, decentralized exchanges (DEXs) experienced a remarkable surge in December, achieving an all-time high monthly trading volume of $463 billion.
This milestone reflects continued growth in DeFi, which has maintained consistent momentum throughout the last quarter of the year.
Chart showing trading volume on DEXs in 2024 (Source: DeFiLlama)DefiLlama reports that trading volumes steadily climbed during Q4, starting with $194.74 billion in October and $374 billion in November before hitting December’s record-breaking figure.
Solana emerged as the leading blockchain for DEX trading activity, handling $115 billion in transactions. Binance Smart Chain (BSC) followed closely with $98 billion, marking its highest monthly volume.
Ethereum-based DEXs processed $88.47 billion, while the Coinbase-backed Base network recorded $52 billion in trades.
Blockchain Networks DEX Volume (Source: DeFilLlama)Meanwhile, Arbitrum, an Ethereum layer-2 network, facilitated $33.8 billion in trading volume, further solidifying its position as a significant player in the DeFi ecosystem.
Among individual platforms, Uniswap retained its position as the leading DEX, recording $106.4 billion in trading volume over the past month.
PancakeSwap ranked second with $96.4 billion in activity, while Raydium—Solana’s most prominent decentralized exchange—secured third place with $58 billion in transactions.
Top 5 DEX Volume (Souce: DeFillama)The top five are completed with Aerodrome and Orca, which processed $31.03 billion and $22.8 billion in trades, respectively.
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