Decentralized exchanges near $100 billion in monthly volume for November
Monthly data for decentralized exchanges (DEXs) indicates that the ecosystem has seen nearly $100 billion in volume for the month of November.
According to The Block’s Data Dashboard, the total for November is approximately $99.5 billion as of November 28. Monthly volumes have climbed since hitting a low for the year of $56.35 billion in July, with the November figure surpassing October’s $89.15 billion.
As expected, Uniswap v3 and v2 exchange protocols have constituted the bulk of the monthly volume for November, reporting $47.37 billion and $24.07 billion, respectively.
According to CoinGecko, the USDC/ETH trading pair was the most active on Uniswap v3, accounting for approximately 654.4 million in volume during the past 24 hours. CoinGecko reports $1.49 billion in overall volume for the protocol in the past day.
To date, monthly volumes peaked in May, when DEXs reported a total of $162.83 billion in volume.
© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: Michael McSweeney
