Ethereum DEX Volume Surges: Uniswap, Curve Finance, and Balancer Lead the Market #EthereumETFApprovalExpectations
Transaction volume in Ethereum-based decentralized exchanges (DEXs) has rebounded despite a broader cryptocurrency market downturn.
According to data from DeFi Llama, Ethereum DEX volume surged by 18% to $9.88 billion, contrasting with declines seen across other blockchain networks. In comparison, Solana DEX volume fell by 8%, while Base, BNB Smart Chain, Arbitrum, and Polygon recorded drops of 4%, 14%, and 10%.
Tron experienced the most significant decline, with DEX volume plummeting by 52% to $642 million. This drop coincided with the cooling of the SunPump meme coin trend, which had propelled assets like Sundog, Tron Bull, and Muncat to short-lived highs before retreating.
Within Ethereum’s network, several key DEXs saw notable volume increases. Uniswap led the market with a 14.2% rise to $5.7 billion following its settlement with the Commodity Futures Trading Commission (CFTC). The company agreed to pay a $175,000 fine and discontinue offering margin products in the U.S.
Curve Finance’s volume soared by 68% to $1.48 billion, while Balancer, Hashflow, and Pendle posted gains of 68%, 196%, and 85%, respectively.
