Decentralized exchanges saw over $1 trillion in trading volume this year

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Decentralized exchanges (DEXs) reported more than $1 trillion in trading volumes in the year 2021, according to The Block Research.

That figure is a massive 858% increase compared to 2020 DEX trading volumes, based on data as of December 23. Last year, DEXs facilitated over $115 billion in trading volumes.

Overall, monthly DEX trading volume peaked in May 2021 at $162.8 billion. The most considerable month-over-month growth was in January, with a 137.3% gain, per The Block Research's 2022 Digital Asset Outlook Report.

Uniswap continues to dominate the DEX market. It has a share of over 75% this month to date as of this writing.

Read the full 2022 Digital Asset Outlook Report here.

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