The recent report by Phoenix Group shows that Uniswap is the leading DEX that gathered the most web traffic within the last month. The statistics provide a deeper understanding of the web traffic distribution in different popular DEX platforms, indicating shifts in activity rates and geographical prevalence.
#WEB TRAFFIC TO DEXES FOR THE LAST MONTH #Uniswap #PancakeSwap #Sushi #Raydium #1inch #Osmosis #LFJ #Quickswap #Balancer pic.twitter.com/qOCfoiDQrn
— PHOENIX – Crypto News & Analytics (@pnxgrp) October 15, 2024
Uniswap Dominates Despite a Decline
Uniswap, a major decentralized exchange built on the Ethereum network, recorded the highest total visits, at 2.8M, last month. Even though it witnessed a slump of 24.8% in traffic in the previous month, Uniswap remains ahead. Across the sites, the user’s average page view per session was about 4.45, and most traffic seemed to be from the United States, India, and Brazil, showing the platform’s popularity and impact worldwide.
PancakeSwap: Holding Strong in Second Place
PancakeSwap, DEX on Binance Smart Chain, received the second-largest traffic with 1.2M visits. The site saw a 16.7% decline in traffic this month but remains steady with its users. This made PancakeSwap stand out with an average page per visit of 5.81, which implies that users are more involved with this platform.
Sushi: Third but Stable
Sushi, another large actor within the DEX space, saw 869k visits last month, a 21.1% drop in traffic. Again, it reflects an engaging user level by displaying 5.21 pages viewed per visit.
Raydium Faces the Steepest Drop
Of all leading DEXs, Raydium, which functions on the Solana network, recorded the highest decrease, with a traffic drop of 35.0%. The platform recorded 864K visits, and the number of pages/visits was 4.52.
1inch: Notable Growth
In contrast to overall traffic, which has dipped slightly this month, the 1inch exchange has reported a 69,9% increase in monthly visits, reaching 598K. It was observed that its users visited it an average of 6.04 pages per visit.
Osmosis and Other Platforms
Osmosis, a DEX connected to the Cosmos ecosystem, got 223K visits and had a 25.3% decline in traffic. Another relatively unknown platform was LFJ, which witnessed a drop of 45.7% and has visits of 210K. At the same time, QuickSwap received 198K visits, which is 25.7% more than in the previous month. Balancer saw fewer visits, with 88.1K unique visits; the overall visits declined by 23.9% from the last month.From the report, it is easy to see that interest and usage of decentralized exchanges are quite volatile globally, but Uniswap remains dominant despite the drop in activity. These numbers signify that DEXs are gradually playing a significant role in the cryptocurrency market, though users’ interactions change each month.
