Decentralized exchange from December 2021, according to current data[डेक्स]quantity is falling. However, the dex trade volume last month was 2.37% higher than the volume recorded in February. Despite the brief spike and with only eight days left in April, metrics show that this month’s DEX volume will be much lower than in March.
Decentralized exchange volumes slip month after month – April’s dex volume remains weak
In 12 months, the DEX platform recorded over $1 trillion in trading volume as they became a major fixture in the crypto industry. Today, data from coingecko.com, coinmarketcap.com, dune.com and theblockcrypto.com indicate that Uniswap version three (v3) is the largest by 24-hour trading volume with $1.29 billion during the past 24 hours. Big Dex. Following Uniswap v3, Dex platforms such as Pancakeswap v2, Dydx, and Curve Finance hold the top 24-hour volume positions at the time of writing.
The dashboard, called “DEX Metrics” on Dune Analytics, shows DEX trade volumes during the past seven days, out of over a dozen DEX protocols, amounting to approximately $14 billion. The trailing seven-day metrics indicate that DEX volumes recorded on Dune Analytics’ dashboard are down 22%. Data from theblockcrypto.com’s crypto dashboard shows 30-day statistics stemming from five high-volume DEX platforms and 16 smaller DEX protocols.
Those figures have seen a decline since December 2021, after $186.03 billion was recorded that month. The following month in January, the DeX platforms saw $157.68 billion in trading volume, and then in February, it dropped to $114.37 billion. This means that between December and February 2022, the dex trade volume declined by 38.52%.
As mentioned above, there was a brief spike in DEX trading volume in March, as $117.09 billion was recorded during that time frame. However, the figures for April look like DEX trading volume will be weak and possibly lower than in February. As of Thursday, April 21, 2022, current data shows that trade of $75.11 billion has been recorded so far.
While theblockcrypto.com dashboard includes 30-day statistics, the seven-day metrics from Coinmarketcap.com’s DEX volume chart also show an upbeat week. Dune Analytics’ “DEX Metrics” dashboard indicates that the current 30-day DEX trade volume is approximately $70 billion. It will take a lot of trade volume for the March spike to catch on and it doesn’t look like that will happen right now.
What do you think about the drop in DEX trading volume since December? Let us know what you think about this topic in the comment section below.
image credit: Shutterstock, Pixabay, WikiCommons, theblockcrypto.com dashboard, coingecko.com stats,
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