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Decentralized Exchange Volume Rose 160% in August to $11.6B, Setting Third Straight Record

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Aeon Flux
Published on:
2 September 2020
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Sep 1, 2020 at 13:33 UTCUpdated Sep 1, 2020 at 14:17 UTC

a-aug-dex-volume

August trading volume on decentralized exchanges set its third consecutive monthly record high after climbing 160% from July, according to Dune Analytics.

  • Aggregate trading volume on decentralized exchanges reached $11.6 billion in August, up from $4.5 billion in July as the intense enthusiasm for decentralized finance (DeFi) applications continued to spread.
  • Leading decentralized exchange platform Uniswap reported a 283% volume increase in August, reaching $6.7 billion after topping its July record less than two weeks into the month, as CoinDesk previously reported.
  • Only two decentralized trading platforms – Loopring and Oasis – reported a drop in volume over the past month, falling 5% and 3%, respectively.

a-aug-dex-volumeAggregate decentralized exchange volumes since January 2019Source: Dune Analytics, CoinDesk Research

  • Along with aggressive volume growth, Uniswap reported an almost 100% increase in the total trading pairs listed on the platform, totaling 6867 as of Monday.
  • By design the platform allows any user to create and list a token. Currently 6,020 assets are available for trading.

aug-dex-vol-2Total trading pairs available on the current version (v2) of Uniswap. Source: Dune Analytics, CoinDesk Research

  • The effects of decentralized exchanges’ exponential growth is seen in traditional cryptocurrency exchanges listing a variety of tokens that originated on platforms like Uniswap.
  • For example, there is Binance-listed Balancer’s token, Poloniex-listed Tendies Token and FTX-listed yearn.finance in addition to a perpetual futures index of the top 100 coins on Uniswap.

Read more about…

Decentralized ExchangesOasisUniswapLoopringDune Analytics

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The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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