Decentralized Exchange Volume Rose 160% in August to $11.6B, Setting Third Straight Record

Only two decentralized exchange protocols reported a drop in volume during August.

AccessTimeIconSep 1, 2020 at 1:33 p.m. UTC
Updated Sep 14, 2021 at 9:50 a.m. UTC

August trading volume on decentralized exchanges set its third consecutive monthly record high after climbing 160% from July, according to Dune Analytics.

  • Aggregate trading volume on decentralized exchanges reached $11.6 billion in August, up from $4.5 billion in July as the intense enthusiasm for decentralized finance (DeFi) applications continued to spread.
  • Leading decentralized exchange platform Uniswap reported a 283% volume increase in August, reaching $6.7 billion after topping its July record less than two weeks into the month, as CoinDesk previously reported.
  • Only two decentralized trading platforms – Loopring and Oasis – reported a drop in volume over the past month, falling 5% and 3%, respectively.
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  • Along with aggressive volume growth, Uniswap reported an almost 100% increase in the total trading pairs listed on the platform, totaling 6867 as of Monday.
  • By design the platform allows any user to create and list a token. Currently 6,020 assets are available for trading.
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Total trading pairs available on the current version (v2) of Uniswap.

  • The effects of decentralized exchanges’ exponential growth is seen in traditional cryptocurrency exchanges listing a variety of tokens that originated on platforms like Uniswap.
  • For example, there is Binance-listed Balancer’s token, Poloniex-listed Tendies Token and FTX-listed yearn.finance in addition to a perpetual futures index of the top 100 coins on Uniswap.

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