Trading volumes on major decentralized exchange (DEX) aggregators have risen to record highs in recent weeks.
Token traders and swappers can use decentralized exchange aggregators to search many DEX platforms for the best swap rates at any given time.
Increase in volume
Popular DEX aggregators such as 1inch, 0x, and Paraswap have seen increased volumes over the last month, as per Dune data. Last week, the aggregate volume for those three reached an all-time weekly high of $6 billion, up about 50% from the beginning of November.
In terms of current market share, 1inch has a slight lead at 53%, but 0x is swiftly coming up, with 42% recorded for December so far. Last week, 1inch announced a $175 million Series B investment round led by Amber Group.
As per Dune, on Dec. 5, 0x actually overtook 1inch in terms of daily volume share, with 49% versus 43.7%. To date, the DEX aggregator has handled $3 billion in volume, per the 0xTracker.
DeFi developers may leverage 0x’s application programming interface (API) to integrate token swaps sourced from prominent DEXes directly into smart contracts.
Dune shows data
Matcha, a native DEX for the 0x protocol, has processed $4.7 billion in transaction volume in the last 30 days, based on its dashboard.
According to Dune’s DEX data, trading activity on decentralized exchanges reached $4 billion in the last 24 hours and $33 billion in the previous week. Currently, the aggregator holds a 20% portion of that volume.
As Dune reported, Uniswap is the current DEX market leader by a wide margin, with a 79% dominance. Over the last week, it has processed $26.2 billion in trade activity.
SushiSwap, which was cloned from Uniswap, is in the second position with a 9.8% market share.
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