According to reports, monthly trading volume on decentralized exchanges reached an all-time high in December Block data dashboard.
December's total DEX volume is $320.5 billion, which is the first time this figure has crossed the $300 billion mark. The previous record high was this November's monthly volume, which was reported at $299.6 billion.
Unswap The record for the month was over $103 billion in volume, followed by $72 billion in monthly volume on Pancakeswap. Solana's biggest DEX radium It was in third place with 54.6 billion dollars. Aerodrome and Curve came next.
“Many of today's most in-demand cryptocurrencies, such as AI agents, are listed exclusively on DEXs,” said Min Jung, research analyst at Presto Research. Additionally, projects like Hyperliquid highlight a changing market perception where a CEX listing is no longer considered necessary to achieve significant market capitalization.
CEX volume also increases
Meanwhile, monthly cash trading volume on centralized exchanges in December also hit the highest level since May 2021. Monthly cash volumes rose 137% from October to November, reflecting positive market sentiment boosted by the re-election of pro-crypto candidate Donald Trump as US president.
Block data dashboard shows The volume of cash transactions in December reached $2.78 trillion, of which Binance was about $950 billion. Crypto.com, Upbit, Bybit and Coinbase also processed hundreds of billions of dollars in cryptocurrency volume in December.
“The increase in DEX and CEX volume reflects renewed activity in the cryptocurrency market, driven by recent increases in volatility, increased trust in DeFi ecosystems, and improved liquidity and trading tools on centralized exchanges,” said Neil Wen of Kronos Research.
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