Technology

Decentralized exchanges saw over $1 trillion in trading volume this year

Decentralized exchanges (DEXs) reported more than $1 trillion in trading volumes in the year 2021, according to The Block Research. That figure is a massive 858% increase compared to 2020 DEX trading volumes, based on data as of December 23. Last year, DEXs facilitated over $115 billion in trading volumes. Overall, monthly DEX trading volume peaked in May 2021 at $162.8 billion. The most considerable month-over-month growth was in January, with a 137.3% gain, per The Block Research’s 2022 Digital Asset Outlook Report.

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So What: DEX’s are at the forefront of the new DeFi revolution, but are only one of many entry points to the DeFi world. So the real story here may be DeFi not just DEXs.

What’s Next: Expect continued and continuous action in the move to the world of DeFi.

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