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.
Updated Mar 6, 2023 at 3:02 p.m. UTC
![Aggregate decentralized exchange volumes since January 2019](https://www.coindesk.com/resizer/6Yo-if9RC6VfCXjsUZe6Q5I8Etw=/567x399/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/NH5XWSCRXRDITKFBV4NCLHYBK4.png)
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.
- 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.
![Total trading pairs available on the current version (v2) of Uniswap.](https://www.coindesk.com/resizer/OzUiXKNiqDRe40yKpbECjNU7D88=/560x368/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/4EWIX6Y7NZCQFH33HH45KYET3U.png)
- 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 Tokenhttps://support.poloniex.com/hc/en-us/articles/360051748974-Tendies-is-now-available-on-Poloniex- and FTX-listed yearn.finance in addition to a perpetual futures index of the top 100 coins on Uniswap.