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

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

Aug 1, 2020 at 1:59 p.m. UTC
Updated Sep 14, 2021 at 9:39 a.m. UTC

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.”
CoinDesk - Unknown

Decentralized exchange volume since January 2019

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

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.

Trending

1
CoinDesk - Unknown
Sequoia's Guide to Surviving the 2022 Bear Market

Venture capitalists have gotten increasingly frantic over the last few months.

Venture capitalists have gotten increasingly frantic over the last few months.

CoinDesk - Unknown
2
CoinDesk - Unknown
NFT Art Museums Are a Good Idea

The metaverse turns galleries global, and helps fund the arts. This article is part of “Metaverse Week."

The metaverse turns galleries global, and helps fund the arts. This article is part of “Metaverse Week."

CoinDesk - Unknown
3
CoinDesk - Unknown
How the US Can Establish Itself as a Crypto Leader

Regulators have an opportunity to map out thoughtful, strategic policy on stablecoins and beyond.

Regulators have an opportunity to map out thoughtful, strategic policy on stablecoins and beyond.

CoinDesk - Unknown
4
CoinDesk - Unknown
No, the UK Is Not Going to Make USDC and USDT Legal Tender

For “legalize” read “regulate.”

For “legalize” read “regulate.”

CoinDesk - Unknown