According to DefiLlama , DEXs hit a record $462 billion in trading volume in December, marking their highest-ever month of trading volume, continuing the uptick from November.
In November, the DeFi space saw a monthly trading volume of $374 billion, fueled by anticipation of a more favorable regulatory regime in the United States following Donald Trump’s victory in the US presidential election.
Top Decentralized Exchanges by Volume
Uniswap leads the DEX with $106.4 billion in trading volume over the past 30 days, according to DefiLlama , while PancakeSwap comes in second with $96.4 billion.
Raydium , Solana’s largest DEX, ranked third with $58 billion in trading volume, matching the increase in Solana DApp revenue in November. Solana DApps generated $365 million in revenue, driven largely by memecoin on Pump.fun .
Aerodrome and Orca ranked fourth and fifth with trading volumes of $31 billion and $22 billion, respectively.
Lifinity, Curve Finance and Hyperliquid have a combined trading volume of $43.6 billion.
