Summary Intro: Decentralized exchanges (DEX) hit a new milestone in December, achieving a record monthly trading volume of $462 billion, according to DefiLlama data. Leading DEX, Uniswap, recorded a trading volume of $106.41 billion for the month.
Unstoppable Growth of Decentralized Exchanges December was a monumental month for decentralized exchanges (DEX), as they reached unprecedented heights in trading volume. DefiLlama’s data shows that an astonishing $462 billion worth of trades were executed through DEX platforms during the month. Uniswap emerged as the top player, registering a trading volume of $106.41 billion over the past 30 days. Following closely behind is PancakeSwap, while Raydium claims the title of largest DEX within the Solana ecosystem, having facilitated $58 billion in trades during the same period. Rounding out the top five are Aerodrome and Orca, which recorded trading volumes of $31 billion and $22 billion respectively. The combined trading volume of Lifinity, Curve Finance, and Hyperliquid amounted to $43.6 billion.
The Meme Coin Market Correction While DEX experienced explosive growth, the meme coin market went through a sharp correction in December. Data from CoinMarketCap reveals that meme coins initially witnessed a rapid increase in market value earlier in the month before facing a sudden downturn. The total market value of meme coins peaked at $137 billion on December 9th but plummeted by $45 billion to $92 billion just two weeks later. At present, the total market value of meme coins stands at $95 billion – a drop of 20% compared to its value on December 1st.
Source: Coinbuzzfeed.com
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