📣 DEXes Set a Record With Monthly Trading Volume Over $462B
posted 30 Dec 2024
In December 2024, crypto exchanges set a new historical high for monthly trading volume.
In December 2024, crypto exchanges set a new historical high for monthly trading volume.
According to data from DefiLlama, the total trading volume on DEXes surpassed $462 billion for the month.
DEXes set a record with over $462B in monthly trading volume in December 2024: Source: DefiLlama
UniSwap led the rankings with more than $106 billion in trading volume. PancakeSwap ($96 billion), Raydium ($58 billion), Aerodrome ($31 billion), and Orca ($22 billion) rounded out the top 5.
However, DEXes still lag behind centralized exchanges, whose total monthly trading volume exceeded $2.8 trillion in December, according to data from The Block. This represents a record for spot exchanges, with a 137% increase from October to November.
Top CEXes by monthly trading volume include Binance ($950 billion), Crypto.com ($305 billion), Upbit ($273 billion), Bybit ($246 billion), and Coinbase ($184 billion).
These numbers indicate that many traders prefer centralized exchanges due to easier sign-up processes and familiarity. CEX platforms typically offer a streamlined registration process with identity verification and email usage.
In contrast, to trade on DEXes, you need a crypto wallet. However, DEXes offer benefits like enhanced privacy and better control over your funds.
Check out our article: “Differences Between DEX and Centralized Exchanges” to learn more about crypto trading platforms.
More breaking news
More breaking news
Breaking news
Crypto Scams and Hacks Hit Record Lows: CertiK Report
