Decentralized Exchange Volume Surpasses $1 Trillion in 2021, Uniswap Leads the Pack – Defi Bitcoin News

The importance of volumes in decentralized exchange (dex), has increased this year. Dex apps have dealt with large to very large volumes on centralized crypto trading platforms. Uniswap capturing 71% if all Ethereum-based crypto-ex applications, Ethereum-based platforms have processed $21 Billion in the past seven day. A report by The Block Research with recently revised metrics shows that dex platforms generated $1 trillion in volume last year.

Digital Asset Report: 2021 Dex Volumes Hit New Heights

Decentralized finance (defi) has grown a great deal this year and as the end of 2021 approaches, there’s more than $250 billion of value locked in defi protocols, according to Metrics also show that Uniswap has the highest 24-hour volume of any blockchain-based dex application with $1.45 Billion today. Data shows that Uniswap holds $8.81 Billion in total value (TVL), which is less than Curve Finance’s $22.36 Billion TVL.

Below Uniswap, with $848M in 24-hour volume and 24 dex leaders is Pancakeswap. Below Pancakeswap’s 24-hour volume is Trader Joe ($453.7M), Curve ($453.1M), Sushiswap ($401M), Uniswap v2 ($380M), and Spookyswap ($185M). Just recently, The Block Research published a comprehensive 150-page report covering the “2022 Digital Asset Outlook,” and the research covers both centralized and decentralized exchange volumes.

Report: Decentralized Exchange Volume Surpasses $1 Trillion in 2021, Uniswap Leads the Pack
1-year dex volume chart via’s data.

The vice president of Research at is an example. Larry Cermak, explained in a tweet on December 16, that “The Block’s legitimate volume index, the spot volume in 2021 will surpass $14.5 trillion, which is 8 times larger than last the volume we saw last year.” Statistics from the study and a report authored by Yogita KhatriDextrade volume also showed that the volume of dex trades was over $1 trillion by 2021.

“Overall, monthly dex volume peaked in May 2021 at $162.8 billion, and the most considerable month-over-month growth was in January, with a 137.3% gain,” the 2022 Digital Asset Outlook report notes. “However, the volume has not fully recovered from the May crash, and the dex-to-centralized exchange spot volume ratio remained under 10% throughout the year.”

Report: Decentralized Exchange Volume Surpasses $1 Trillion in 2021, Uniswap Leads the Pack
All-time dex volume chart via’s data.

The report also highlights dex aggregators. Dex aggregators, such as 1inch, only account for 13.9% in total dex volumes according to the report. “1inch was the leading dex aggregator throughout the year with a market share of 64.9%, followed by 0x API (Matcha) at 16.8%,” the researchers detail. The scope of the researcher’s 2022 study delves into numerous other subjects like market performances, derivatives markets, mining revenue, on-chain volumes, stablecoins, and a summary of venture funding in 2021.

Do you have any thoughts about this year’s decentralized exchange volume (dex) exceeding $1 trillion? Comment below and let us know how you feel about the subject.

Jamie Redman

Jamie Redman is the News Lead for News. He also lives in Florida and works as a journalist covering financial technology. Redman is an active participant in the cryptocurrency community from 2011. Redman is passionate about Bitcoin and open-source codes. Redman has contributed more than 5,000 articles to News since September 2015. These articles are about disruptive protocols that are emerging.

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