Altszn.com
  • Home
  • Crypto
    • Altcoins
    • Bitcoin
    • Ethereum
    • Monero
    • XRP
    • Zcash
  • Web3
  • DeFi
  • NFTs
No Result
View All Result
Altszn.com
  • Home
  • Crypto
    • Altcoins
    • Bitcoin
    • Ethereum
    • Monero
    • XRP
    • Zcash
  • Web3
  • DeFi
  • NFTs
No Result
View All Result
Altszn.com
No Result
View All Result

Decentralized Exchanges’ Market Share Hits All-time High

Altszn.com by Altszn.com
July 31, 2024
in Blockchain, Crypto, DeFi, Web3
0
Decentralized Exchanges’ Market Share Hits All-time High
399
SHARES
2.3k
VIEWS
Share on FacebookShare on Twitter


Decentralized exchanges now account for more than 14% of spot crypto trades.

Decentralized exchanges (DEXs) are processing more trades than ever, with the DEX-to-CEX spot trading ratio at an all-time high of 14.22%, according to The Block, and reaching as high as 22% in the last 24 hours, according to DeFiLlama.

The increase in DEX dominance indicates a growing number of users buying and selling tokens on-chain and could be attributed to the rising popularity of memecoins, which typically do not trade on centralized exchanges until they achieve a relatively large market capitalization.

At 14.22%, the DEX-to-CEX volume ratio beats out its previous high from May 2023 at 13.7% and January 2022’s local top of 11.3%.

May 2023 is often looked back on as the first “memecoin season” of this market cycle as a result of PEPE’s breathtaking rally, and January 2022 coincided with the NFT market’s peak daily volumes. Notably, both of these “metas” required users to transact exclusively on-chain.

DEX-to-CEX spot trading ratio chart
DEX-to-CEX spot trading ratio

In addition to the DEX-to-CEX ratio, Solana’s dominance is also at new highs. For the first time ever, Solana is set to outpace Ethereum in terms of monthly DEX volumes.

As of July 29, Solana DEXs have processed $52.3 billion in total volume for the month, whereas Ethereum DEXs have processed $49.1 billion in the same time period, according to DeFiLlama.

SOL/ETH Chart
SOL/ETH Chart

SOL has greatly outperformed ETH amid Solana’s catching up to Ethereum in terms of on-chain metrics. The SOL/ETH ratio is up 329% over the last year and 28% in the last 30 days.



Read More: thedefiant.io

Tags: AllTimedecentralizedDeFiExchangesHighHitsMarketshare
ADVERTISEMENT

Recent

Strategy signals another Bitcoin buy on June 2

Strategy signals another Bitcoin buy on June 2

June 1, 2025
Bots have wallets, and the machine economy has arrived.

Bots have wallets, and the machine economy has arrived.

June 1, 2025
Czech Justice Minister Resigns Over $45M Bitcoin Donation Scandal

Czech Justice Minister Resigns Over $45M Bitcoin Donation Scandal

June 1, 2025

Categories

  • Bitcoin (4,522)
  • Blockchain (10,788)
  • Crypto (8,729)
  • Dark Web (443)
  • DeFi (8,107)
  • Ethereum (4,550)
  • Metaverse (6,803)
  • Monero (249)
  • NFT (1,094)
  • Solana (4,910)
  • Web3 (19,842)
  • Zcash (458)

Category

Select Category

    Advertise

    Advertise your site, company or product to millions of web3, NFT and cryptocurrency enthusiasts. Learn more

    Useful Links

    Advertise
    DMCA
    Contact Us
    Privacy Policy
    Shipping & Returns
    Terms of Use

    Resources

    Exchanges
    Changelly
    Web3 Jobs

    Recent News

    Strategy signals another Bitcoin buy on June 2

    Strategy signals another Bitcoin buy on June 2

    June 1, 2025
    Bots have wallets, and the machine economy has arrived.

    Bots have wallets, and the machine economy has arrived.

    June 1, 2025

    © 2022 Altszn.com. All Rights Reserved.

    No Result
    View All Result
    • Home
      • Home – Layout 1
      • Home – Layout 2
      • Home – Layout 3

    © Altszn.com. All Rights Reserved.

    • bitcoinBitcoin (BTC) $ 105,227.00
    • ethereumEthereum (ETH) $ 2,531.06
    • tetherTether (USDT) $ 1.00
    • xrpXRP (XRP) $ 2.17
    • bnbBNB (BNB) $ 656.66
    • solanaSolana (SOL) $ 155.93
    • usd-coinUSDC (USDC) $ 0.999786
    • dogecoinDogecoin (DOGE) $ 0.192173
    • tronTRON (TRX) $ 0.269134
    • cardanoCardano (ADA) $ 0.679930
    • staked-etherLido Staked Ether (STETH) $ 2,532.10
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 105,226.00
    • hyperliquidHyperliquid (HYPE) $ 33.62
    • suiSui (SUI) $ 3.29
    • wrapped-stethWrapped stETH (WSTETH) $ 3,038.89
    • chainlinkChainlink (LINK) $ 14.02
    • avalanche-2Avalanche (AVAX) $ 20.71
    • stellarStellar (XLM) $ 0.266656
    • bitcoin-cashBitcoin Cash (BCH) $ 405.71
    • leo-tokenLEO Token (LEO) $ 8.61
    • the-open-networkToncoin (TON) $ 3.16
    • shiba-inuShiba Inu (SHIB) $ 0.000013
    • usdsUSDS (USDS) $ 0.999806
    • hedera-hashgraphHedera (HBAR) $ 0.168296
    • wethWETH (WETH) $ 2,535.97
    • litecoinLitecoin (LTC) $ 88.10
    • wrapped-eethWrapped eETH (WEETH) $ 2,702.77
    • polkadotPolkadot (DOT) $ 4.04
    • moneroMonero (XMR) $ 331.07
    • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
    • bitget-tokenBitget Token (BGB) $ 4.75
    • ethena-usdeEthena USDe (USDE) $ 1.00
    • pepePepe (PEPE) $ 0.000012
    • pi-networkPi Network (PI) $ 0.641916
    • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 105,296.00
    • whitebitWhiteBIT Coin (WBT) $ 31.16
    • daiDai (DAI) $ 0.999905
    • uniswapUniswap (UNI) $ 6.26
    • aaveAave (AAVE) $ 246.32
    • bittensorBittensor (TAO) $ 414.21
    • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.18
    • crypto-com-chainCronos (CRO) $ 0.103665
    • aptosAptos (APT) $ 4.77
    • okbOKB (OKB) $ 49.88
    • nearNEAR Protocol (NEAR) $ 2.44
    • jito-staked-solJito Staked SOL (JITOSOL) $ 188.20
    • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
    • internet-computerInternet Computer (ICP) $ 4.95
    • ondo-financeOndo (ONDO) $ 0.835178
    • ethereum-classicEthereum Classic (ETC) $ 17.04
    • bitcoinBitcoin (BTC) $ 105,227.00
    • ethereumEthereum (ETH) $ 2,531.06
    • tetherTether (USDT) $ 1.00
    • xrpXRP (XRP) $ 2.17
    • bnbBNB (BNB) $ 656.66
    • solanaSolana (SOL) $ 155.93
    • usd-coinUSDC (USDC) $ 0.999786
    • dogecoinDogecoin (DOGE) $ 0.192173
    • tronTRON (TRX) $ 0.269134
    • cardanoCardano (ADA) $ 0.679930
    • staked-etherLido Staked Ether (STETH) $ 2,532.10
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 105,226.00
    • hyperliquidHyperliquid (HYPE) $ 33.62
    • suiSui (SUI) $ 3.29
    • wrapped-stethWrapped stETH (WSTETH) $ 3,038.89
    • chainlinkChainlink (LINK) $ 14.02
    • avalanche-2Avalanche (AVAX) $ 20.71
    • stellarStellar (XLM) $ 0.266656
    • bitcoin-cashBitcoin Cash (BCH) $ 405.71
    • leo-tokenLEO Token (LEO) $ 8.61
    • the-open-networkToncoin (TON) $ 3.16
    • shiba-inuShiba Inu (SHIB) $ 0.000013
    • usdsUSDS (USDS) $ 0.999806
    • hedera-hashgraphHedera (HBAR) $ 0.168296
    • wethWETH (WETH) $ 2,535.97
    • litecoinLitecoin (LTC) $ 88.10
    • wrapped-eethWrapped eETH (WEETH) $ 2,702.77
    • polkadotPolkadot (DOT) $ 4.04
    • moneroMonero (XMR) $ 331.07
    • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
    • bitget-tokenBitget Token (BGB) $ 4.75
    • ethena-usdeEthena USDe (USDE) $ 1.00
    • pepePepe (PEPE) $ 0.000012
    • pi-networkPi Network (PI) $ 0.641916
    • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 105,296.00
    • whitebitWhiteBIT Coin (WBT) $ 31.16
    • daiDai (DAI) $ 0.999905
    • uniswapUniswap (UNI) $ 6.26
    • aaveAave (AAVE) $ 246.32
    • bittensorBittensor (TAO) $ 414.21
    • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.18
    • crypto-com-chainCronos (CRO) $ 0.103665
    • aptosAptos (APT) $ 4.77
    • okbOKB (OKB) $ 49.88
    • nearNEAR Protocol (NEAR) $ 2.44
    • jito-staked-solJito Staked SOL (JITOSOL) $ 188.20
    • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
    • internet-computerInternet Computer (ICP) $ 4.95
    • ondo-financeOndo (ONDO) $ 0.835178
    • ethereum-classicEthereum Classic (ETC) $ 17.04