Decentralized exchanges saw over $1 trillion in trading volume this year
December 23, 2021, 10:00AM EST
1 min read
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.
Today the always-on demands of online markets have to be matched with the ability to access opportunities instantly and with no limits. Historically correspondent banks would move large sums of money for those needing to transfer funds while creating bottlenecks of unnecessary friction.
Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
In this episode of The Scoop, StarkWare Co-Founders Uri Kolodny and Eli Ben-Sasson walk through StarkWare's recent fundraise and discuss how their firm is bringing affordable blockchain transactions to the masses.