Monthly decentralized exchange volumes declined in October, falling to $18.5 billion

DEX • November 2, 2020, 10:50AM EST
UPDATED: November 2, 2020, 10:51AM EST
The Block

Data for October shows that decentralized exchanges (DEXs) saw a 23% decline in trade volume for the month, falling to $18.46 billion from September's $24 billion.

October's volume numbers signify the first decline since April 2020, a sharp contrast from the roughly 103% month-over-month increase from August to September, according to data published by Dune Analytics, which tracks volumes in the DEX ecosystem.

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Two major decentralized exchanges comprised the majority of October's volume, with Uniswap accounting for about 60.7% and Curve about 28.1%.

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Saniya More (pronounced: Saan-ya Mo-ray) is a quadrilingual journalist at The Block. She got her master’s degree from the Columbia University Graduate School of Journalism and did her undergraduate degree at the S.I. Newhouse School of Public Communications, Syracuse University. Her work has appeared in CBS News, Bangkok Post, Thai Enquirer, Globalists, Byline Times and other publications. When she’s not chasing a story, you will most likely find her biking, tweeting, taking photos or creating Spotify playlists for every occasion.

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