Despite the short spike, and only eight days remaining in April’s month, metrics indicate that this month’s dex volumes are likely to be lower than March.
Decentralized Exchange Volumes Fall Month after Month — April’s Volumes of Dex remain sluggish
As they are prominent fixtures in crypto industry, dex platforms have surpassed $1 trillion in trade volume in 12 months. Data from coingecko.com and coinmarketcap.com show that Uniswap version 3 (v3) has the highest 24-hour trade volume at $1.29 Billion. At the time of writing, the top 24 hour volume positions are held by Curve Finance and Pancakeswap v2.
The Dune Analytics dashboard, “DEX Metrics”, shows that the dex trade volume for the past seven days is approximately $14 billion. This includes more than a dozen protocols. The seven-day trailing metrics show that dex volumes on Dune Analytics’ dashboard have fallen 22%. Data from theblockcrypto.com shows 30-day statistics derived from five high-volume platforms and 16 smaller protocols.
These statistics show that there has been a decline in trade volume since December 2021, when $186.03 million was recorded. In January, $157.68 million was recorded in dex platforms’ trade volume. Then, in February, $114.37 trillion was recorded. This means that between December 2022 and February 2022, the dex trade volume fell by 38.52%.
As we mentioned, March saw a short spike in dex trading volume. $117.09 million was recorded in that period. The April statistics show that dex trading volumes may be lower than in February, and they will likely be less robust. Current data from Thursday, April 21st, 2022 shows that trades totalled $75.11 billion.
Theblockcrypto.com dashboard only shows 30-day stats. However, the seven-day metrics of coinmarketcap.com dex volumes charts show an insipid week. According to Dune Analytics, the current 30 day dex trade volume stands at $70 billion. To catch up to March’s spike, it will take significant trade volume and at this point, it doesn’t seem likely.