Decentralized exchanges (DEX) reached a historical high in December, with trading volume surpassing the $300 billion mark for the first time, reaching $320.5 billion🎉. Among them, Uniswap led with over $103 billion in trading volume, followed closely by Pancakeswap and Raydium. Analysts pointed out that many popular crypto assets are only traded on DEX, indicating that listing on CEX is no longer the only path for high market capitalization.

Meanwhile, centralized exchanges (CEX) also saw their spot trading volume reach its highest level since May 2021, totaling $2.78 trillion. Binance contributed nearly $950 billion. The surge in trading volume for both DEX and CEX reflects a recovery in market activity, benefiting from recent increases in volatility and enhanced trust in the DeFi ecosystem📈.