Decentralized Exchange Volumes Rose 174% in July, Topping $4.3B and Setting Second Straight Record

Uniswap reported 41% of July’s decentralized exchange volume.

By Zack Voell

Aug 1, 2020 at 1:59 p.m. UTC

Updated Mar 6, 2023 at 3:13 p.m. UTC

mempool-july — Decentralized exchange volume since January 2019

Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Secure Your Seat

Zack Voell

Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Secure Your Seat

July trading volume on decentralized exchanges set its second consecutive record high, rising 174% from June, according to data from Dune Analytics.

Aggregate trading volume on decentralized exchanges reached $4,32 billion in July, up from $1.52 billion in June.
41% of July’s volume came from Uniswap, on which traders speculate on assets ranging from “a better Bitcoin” to a coin named after fried chicken.
CoinDesk previously reported trading volume topped June’s record part way through July.
“Decentralized finance has exploded over the past couple months. We’ve seen the largest use cases as trading, and borrowing and lending,” said Kyle Davies, co-founder of Three Arrows Capital. “I expect this trend to continue.”

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Zack Voell

Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

Zack Voell