According to the statistics presented by the PHOENIX, the total trading volume on decentralized exchanges (DEXs) ended the week with $93.66 billion. The data indicates a trading volume reduction of 4.32% of the previous week. PancakeSwap was ranked first with a 7-day trading volume of more than $59.5 billion compared to other platforms.

TOP #DECENTRALIZED EXCHANGES BY WEEKLY TRADING VOLUME
#PancakeSwap #Uniswap #Raydium #Orca #Aerodrome #Meteora #Curve #DODO #QuickSwap pic.twitter.com/4SKxRj1oUx

Uniswap had a trading volume of 12.4 billion, occupying a leading position in the Ethereum-based DEX world. Solana-based exchange Raydium recorded $4.9 billion, which signifies the stable user activity. Orca and Aerodrome made $2.6 billion and $2.4 billion, respectively, so it is evident they are still catching up in DeFi.

The amount of total value locked (TVL) was different on sites. Once again, PancakeSwap led the ranking, featuring a TVL of 5.1 billion, which is evidence of its intense liquidity supporting the extensive trading volume. The TVL of Uniswap was $1.88 billion, which indicates its continued presence in the field of decentralized finance.

Smaller DEXs like Curve, DODO, and QuickSwap had a lower TVL level. The curve value was $146.6 million, DODO was at $43.05 million and QuickSwap was at 58.76 million. In comparison, these platforms with similarly relevant volumes in the market exhibited lower weekly volumes of $1.4 billion, $523 million and $344 million, respectively.

The total volume share of DEXs relative to centralized exchanges (CEXs) was 27.33 percent over the same period. This figure demonstrates the increasing significance of the use of decentralized platforms in worldwide crypto markets even though the total volume remains controlled by CEXs.

These figures indicate that although the trading activity has been showing signs of volatility, major decentralized exchanges still generate great liquidity and user activity. The competitive and disparate environment of the DeFi space is evidenced by the performance of the smaller platforms. The ratio of decentralized and centralized trading venues is an important measure to look at, as market participants are watching these trends evolve.

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