Decentralized exchanges post $17 billion in volume for November, continue monthly decline from September peak
December 1, 2020, 1:16PM EST
1 min read
Decentralized exchanges posted a total of $17.06 billion in trade volume for November, continuing a decline from September's volume peak of $26.26 billion, according to data collected by The Block Research.
As seen in past months, the volume was dominated by Uniswap, though that marketplace's month-over-month volume fell from $11.2 billion to $9.91 billion, per the data. Curve's volume slid from $5.2 billion to $2.43 billion month-over-month.
All in all, the November volume figure represents a roughly 35% decline from September.
November saw various developments across the DEX space, notably including the stoppage of Uniswap's liquidity mining rewards program. The DEX's community stakeholders are now weighing future options on that front.
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.