Trading Volumes on Decentralized Exchange Aggregators Have Reached New Highs

Decentralized Exchange

To find the best rates for token swaps, more traders are becoming DEX aggregators.

Over the past few weeks, trading volumes on prominent decentralized exchange (DEX) aggregators have gotten to new highs.

Token traders and swappers can make do with decentralized exchange aggregators to search many DEX platforms for the best swap rates at any given time.

Popular DEX aggregators such as 1inch, 0x, and Paraswap have seen increased volumes over the last month, November, according to Dune data. Last week, the aggregate volume for those three reached an all-time weekly high of $6 billion, up about 50% from the beginning of last month, November.

In terms of current market share, 1inch has a slight lead at 53 percent, but 0x is gradually coming up, with 42 percent recorded for December so far. Last week, 1inch announced a $175 million Series B investment round led by Amber Group.

According to Dune, on Dec. 5, 0x actually overtook 1inch in terms of daily volume share, with 49 percent versus 43.7 percent. The DEX aggregator has processed $3 billion in volume in the last seven days, according to 0xTracker.

DeFi developers may leverage 0x’s application programming interface (API) to integrate token swaps sourced from prominent DEXes directly into smart contracts.

Matcha, a native DEX for the 0x protocol, has processed $4.7 billion in transaction volume in the last 30 days, according to its dashboard.

According to Dune’s DEX data, trading activity on decentralized exchanges reached $4 billion in the last 24 hours and $33 billion in the previous week. Currently, the aggregator holds a 20% portion of that volume.

According to Dune, Uniswap is the current DEX market leader by a wide margin, with a 79 percent dominance. Over the last week, it has processed $26.2 billion in trade activity. SushiSwap, which was cloned from Uniswap, is in the second position with a 9.8% market share.

The Author

Samuel Adeshina

Samuel is a financial reporter whose interests include blockchain, market, business, insurance, and Crypto to provide relevant information to all interested.