According to CryptoPotato, Minswap, the largest decentralized exchange on Cardano, experienced a significant increase in various metrics after months of low activity. DappRadar's latest update revealed that Minswap's unique active wallets (UAWs) and transaction count rose by 89.85% and 63.05%, respectively, over the past seven days. The volume also increased by 16% during the same period.

Minswap added 11.29k UAWs, 129.59k transactions, and $592.08 million in trading volume during this time. The weekly figures spiked due to massive activity recorded on September 24th, when the volume of the DEX surged to $6.86 million. On the same day, unique active wallets climbed above 5.4k, and the transaction count reached 35.96k.

This activity could potentially boost the prices of Minswap's native MIN tokens, which generate value from platform usage and serve as a governance token. The surge coincided with the launch of the ADA/JPG trading pair on the decentralized exchange. Minswap maintained its position as the liquidity leader of Cardano DeFi, ending the second quarter with a total value locked (TVL) of approximately $50 million and a dominance of over 32%. However, the figures have since declined, and TVL is currently hovering around $40 million, according to DeFiLlama data.