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Decentralized Exchange Volumes Rose 174% in July, Topping $4.3B and Setting Second Straight Record
Uniswap reported 41% of July’s decentralized exchange volume.
July trading volume on decentralized exchanges set its second consecutive record high, rising 174% from June, according to data from Dune Analytics.
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- 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.”
Zack Voell
Zack Voell is a financial writer with extensive experience in cryptocurrency research and technical writing. He has previously worked with leading cryptocurrency data and technology firms, including Messari and Blockstream. His work (and tweets) has appeared in The New York Times, Financial Times, The Independent and more. He owns bitcoin.
