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Uniswap Leads the Pack as Decentralized Exchange Volume Exceeds $1 Trillion in 2021

AAs per metrics, Uniswap has the highest 24-hour volume of any blockchain platform dex application, at $1.45 billion today.

According to, decentralized finance (defi) has risen significantly this year, and by the end of 2021, there will be more than $250 billion in wealth locked in defi protocols.

According to the data, Uniswap has a total value locked (TVL) of $8.81 billion, which is slightly less than Curve Finance’s $22.36 billion.

Uniswap is today’s 24 dex leader, with $848 million in 24-hour volume, followed by Pancakeswap. Trader Joe ($453.7M), Curve ($453.1M), Sushiswap ($401M), Uniswap v2 ($380M), and Spookyswap ($185M) are all below Pancakeswap’s 24-hour volume. The Block Research has released a comprehensive 150-page analysis titled “2022 Digital Asset Outlook,” which looks at both centralized and decentralized exchange volumes.

In a tweet on December 16, vice president of research at, Larry Cermak, noted that
“The Block’s legitimate volume index, the spot volume in 2021 will surpass $14.5 trillion, which is 8 times larger than last the volume we saw last year.”

According to the analysis and a paper written by Yogita Khatri, dex trade volume exceeded $1 trillion in 2021.

“Overall, monthly dex volume peaked in May 2021 at $162.8 billion, and

“the most considerable month-over-month growth was in January, with a 137.3% gain,”
So, the 2022 Digital Asset Outlook report notes. “However, the volume has not fully recovered from the May crash, and…”

“The dex-to-centralized exchange spot volume ratio remained under 10% throughout the year.”

The report emphasizes the use of dex aggregators in addition to the dex volumes. According to the research, dex aggregators such as 1inch account for only 13.9 percent of total dex volumes. “1inch was the leading dex aggregator throughout the year with…”

“a market share of 64.9%, followed by 0x API (Matcha) at 16.8%,”
the analysts write.

Market performance, derivatives markets, mining revenue, on-chain volumes, stablecoins. Then, a review of venture investment in 2021 are all covered in the scope of the researcher’s 2022 study.

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