PANews reported on December 30 that according to data from The Block, the monthly trading volume of decentralized exchanges (DEX) reached a record high in December, with a total of US$320.5 billion, breaking the US$300 billion mark for the first time, breaking the record of US$299.6 billion set in November. Among them, Uniswap led the way with a trading volume of more than US$103 billion, followed by Pancakeswap with a monthly trading volume of US$72 billion, and Raydium on Solana ranked third with US$54.6 billion.
Analysts point out that many popular crypto assets, such as AI-related tokens, are only traded on DEXs, while the rise of some projects such as Hyperliquid also shows that CEX listing is no longer a necessary condition for achieving high market capitalization.
In addition, CEX's December spot trading volume also reached its highest level since May 2021, with a total of US$2.78 trillion, of which Binance contributed nearly US$950 billion, and Crypto.com, Upbit, Bybit and Coinbase also processed hundreds of billions of dollars in trading volume. Analysts believe that the surge in DEX and CEX trading volume reflects the recovery of market activity, driven by the recent increase in volatility, increased trust in the DeFi ecosystem, and improvements in CEX liquidity and trading tools.
