Current statistics show that decentralized exchange volume (dex) volumes are declining since December 2021. According to current statistics, dex trade volumes increased by 2.37% in April compared with February. Despite the brief spike and with only eight days left in April, metrics show this month’s dex volumes will likely be much lower than in March.
Decentralized Exchange Volumes Slip Month After Month — April’s Dex Volumes Remain Lackluster
As they are a prominent fixture in crypto, the dex platforms have surpassed $1 trillion in trade volume in 12 months. According to data from coinmarketcap.com (dune.com), theblockcrypto.com, Uniswap version 3, with $1.29 trillion in trade volume over the past 24hrs, is today’s largest dex platform. Following Uniswap v3, Dex platforms such as Pancakeswap v2, Dydx and Curve Finance are in the top 24 hour volume positions, at the time this article was written.
The dashboard called “DEX Metrics” on Dune Analytics, shows dex trade volume during the last seven days, out of more than a dozen dex protocols, is approximately $14 billion. The trailing seven-day metrics indicate the dex volumes recorded on the 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.
These stats show that there has been a decrease in trading volume from December 2021 to $186.03 trillion. In January 2021, $157.68 million was recorded in dex platform trade volumes. Then in February it dropped to $114.37 trillion. Dex trade volume dropped by 38.52% between December and February 2022.
The March spike in dex trading volumes was brief, with $117.09 trillion recorded in this timeframe. However, April’s statistics look as though dex trading volumes will be lackluster and possibly lower than February. Current data from Thursday, April 21st, 2022 shows trades totalling $75.11 trillion.
While the theblockcrypto.com’s dashboard covers 30-day stats, seven-day metrics from coinmarketcap.com dex volume charts show an uninspiring week as well. The Dune Analytics’ “DEX Metrics” dashboard indicates current 30-day dex trade volume is approximately $70 billion. It will take a lot of trade volume to catch up to March’s spike and as of now, that doesn’t look as though it will happen.
How do you feel about the December drop in dex trading volume? Comment below and let us know how you feel about the subject.
Images CreditsShutterstock and Pixabay. Wiki Commons. Theblockcrypto.com Dashboard, Coingecko.com Stats.
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