Growing interest in DEX

6. Growing interest in DEX

Sources: THE BLOCK, THE GRAPH, COINGECKO - 2023

As of 2023, DEXs are gaining increasing interest and trading volume. Investors looking for secure and decentralized trading alternatives (fraud-proof).

Uniswap:

• Total Coins Added: Over 10,000 ERC-20 tokens have been developed, making it one of the most diverse networks.

• Total Value Locked (TVL): Approximately $3.7 billion.

• 24-Hour Trading Volume: Around $377 million.

• Market Capitalization: Around $5.46 billion.

PancakeSwap:

• Total Coins Added: Over 1,000 tokens are among the top primarily BSC.

• Total Value Locked (TVL): Approximately $1.8 billion.

• 24-Hour Trading Volume: About $84 million.

• Market Capitalization: Approximately $542 million.

dYdX:

• Total Coins Added: Over 36 cryptocurrencies have been introduced for the trading.

• Total Value Locked (TVL): $500 million approximately.

• 24-Hour Trading Volume: Roughly $1.2 million.

• Market Capitalization: About $1 billion.

SushiSwap:

• Total Coins Added: More than 500 tokens are added for trading in total.

• Total Value Locked (TVL): Approximately $300 million.

• 24-Hour Trading Volume: Around $63 million.

• Market Capitalization: About $191 million.

Curve Finance:

• Total Coins Added: It supports different stablecoins such as USDC, DAI, and USDT.

• Total Value Locked (TVL): Approximately $3 billion.

• 24-Hour Trading Volume: Around $100 million.

• Market Capitalization: About $1 billion.

According to research conducted in 2024, investor interest in decentralized trading is expected to surge and investors will flow from CEX to DEX. This is mainly due to the new MICA regulations that are expected to appear in the second half of 2025.