Decentralized Exchanges See Sheer Growth with a 174% Increase in Trading Volume

Decentralized exchanges ( DEXs ) have recently experienced staggering advancement. According to data from CoinRank, on January 22nd, the trading volume of DEXs spiked by 174.09% to reach the $220.607B mark. Prominent decentralized exchanges in this respect include Raydium, PancakeSwap, Uniswap, and so on. This underscores the renewed interest in the DEX realm. The development comes amid the wider market recovery.

Raydium Dominates DEX Landscape with Weekly Surge of +250%

CoinRank mentioned that, along with a 174.09% spike in trading volume, the DEX sector’s daily volume touched $27.533B. Raydium is leading among the decentralized exchanges in terms of growth, as its 24-hour trading volume jumped to $6.127B, while its weekly volume reached $51.525B. In addition to this, its TVL is 2.997 B, whereas Raydium’s overall weekly increase stands at above 250%.

Subsequently, PancakeSwap comes in the 2nd position with a 24-hour trading volume of $4.927B and a 7-day volume of $27.35B. Additionally, the DEX TVL of the decentralized exchange is $1.853B while it enjoys a weekly increase of up to 264%.

Following this, Uniswap has a $4.825B in its 24-hour trading volume along with $32.188B in its 7-day volume. Moreover, its overall growth accounts for an 83.83% increase over the week. After this, Meteora’s stunning 15956% surge has led its 24-hour trading volume to touch $2.668B while its 7-day volume shows a $26.674B.

Cetus Bottoms List with +26.75% Weekly Increase

CoinRank’s list adds Orca in the 5th place with a $2.091B in 24-hour volume that has resulted from a 550% weekly increase. Moving on, Lifinity’s 164% weekly increase has pushed its 24-hour volume to $1.58B and weekly volume to $14.178B.

Furthermore, Aerodrome, Curve Finance, Hyperliquid, and Cetus account for $1.051B, $537.31M, $305.31M, and $232.69M, respectively, in 24-hour volumes. Simultaneously, their weekly volumes of $8.015B, $3.934B, $1.865B, and $1.968B denote 16.15%, 23.85%, 39.10%, and 26.75% weekly increases, respectively.