The cryptocurrency market is ending 2024 with impressive results, with decentralized exchanges (DEXs) reaching record trading volumes in December. According to the latest data, DEXs collectively processed $326 billion in transactions, surpassing the previous peak of $299,6 billion in November.
The exchange became the industry leader Uniswap , which processed over $105 billion in transactions, accounting for 32,2% of the DEX market share. PancakeSwap followed with $72,31 billion, or 22,16% of the total transaction volume. Raydium, a leading decentralized blockchain platform Solana , earned $56,46 billion, or about 17,3% of the market share. Other well-known players, including Aerodrome and Curve, collectively earned about $50 billion.
However, it is not only decentralized exchanges that can boast a record result. Centralized platforms (CEX) also recorded a significant surge in trading activity. Spot trading volume reached $2,78 trillion. This is the highest figure since May 2021.
Binance became the leader, accounting for $961 billion in transactions, or 34% of the total trading volume. The exchange Crypto.com ranked second with $305,47 billion (about 10,83%). Other well-known exchanges, including Upbit , bybit and Coinbase, have also processed hundreds of billions of transactions.
The surge in trading volume on DEX and CEX exchanges comes amid increased volatility in the crypto market and investor optimism about the policies of the new Donald Trump administration.
