On the 1st (local time), TheBlock announced that the total cryptocurrency trading volume on its DEX in May was 410
The report said that PancakeSwap recorded the highest trading volume, at $17.2 billion in one month.
It was followed by Aerodrome and PumpSwap, which recorded monthly volumes approaching $15 billion each.
The previous peak share for DEXs was in January this year, when it accounted for 20% of total spot trading volume.
"This is not a simple change in market share, but a clear paradigm shift from centralization to decentralization, from trust-based exchanges to code-based exchange systems," said Simon Kim.
"DEXs have now become established as the core infrastructure of the blockchain financial ecosystem, and they are enabling composability, permissionless innovation, and cross-chain interoperability," he said.
The recent surge in DEX trading volume is due to the boom in on-chain meme coin trading that began in earnest last year.
"The use of DEXs has increased due to the fact that Memecoin was launched first on a DEX, which has improved the convenience of using personal wallets, and the decline in trust in centralized platforms."
He continued, "If DEXs continue to grow, they will overtake CEXs in trading volume in 2028 and become the dominant player in the market until 2030."
2025/06/02 16:09 KST
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