The monthly trading volume of decentralized exchanges compared to centralized platforms has reached
According to data compiled by The Block, the monthly trading volume of decentralized cryptocurrency exchanges (DEX) relative to centralized exchanges (CEX) has reached a historical high of 14.22%, with the previous record breaking in May 2023 (13.7%).
According to data from The Block (incomplete statistics), the total trading volume of DEX in July was 139.67 billion US dollars, with Uniswap having the highest trading volume at 48.52 billion US dollars, and Raydium ranking second with 27.78 billion US dollars.
Uniswap founder Hayden Adams also mentioned on social media that DEX's market share has increased compared to CEX, and Kyle Samani, managing partner of venture capital firm Multicoin Capital, believes that this is due to the Solana network. Data shows that Solana's weekly DEX trading volume relative to Ethereum has increased from 67% at the end of June to about 96% last week, and even reached 136% at one point.
However, some members of the crypto community have expressed doubts about the transaction volume on Solana. Viktor Bunin, founder of Credibly Neutral, a cryptocurrency venture capital fund, observed last week that there were many liquidity pools on the Raydium exchange with very low total lock up value (TVL) but high trading volume. He suspected that some people may have quickly withdrawn liquidity by providing their own small amount of funds and increasing trading volume. Samani also speculates that someone is attempting to induce organic trading by displaying high trading volumes.
