According to the report of The Block Research, decentralized exchanges (DEXs) reached a transaction volume of over $ 1 trillion in 2021.
This marks an increase of 858% compared to 2020. Last year, DEXs reached $115 billion in trading volume.
In May of this year, DEX trading volume peaked at $162.8 billion monthly. According to The Block Research’s Digital Asset Outlook 2022 Report, the most significant monthly growth is 137%. It happened in January with an increase of 3 percent.
Uniswap (UNI) continues to dominate the DEX market. At the time of writing, the stock market has a 75% market share among decentralized exchanges.
Uniswap announced yesterday that it will support the Polygon network.