DEX Trading Exceeds $115 Billion in August

In August, the trading volume of decentralized exchanges (DEX) surpassed $115 billion, combining spot and perpetual futures. Following a sluggish July, on-chain trading and total value locked (TVL) in DeFi showed signs of recovery. DeFi Lama reported that August was the strongest month for DEX trading since March. TVL increased by more than $18 billion compared to the June low. The spot DEX trading volume in August was approximately $50.63 billion, while the perpetual futures DEX trading volume was about $64.86 billion. Uniswap, PancakeSwap, and Hyperliquid accounted for the majority of trades. The Ethereum-based spot DEX trading volume reached around $140 billion, marking the first time it ranked first by chain since March. Hashkey Capital stated that Ethereum DEX trading volume increased by 62% month-on-month to $140.4 billion. DEX activity rose by about 18% compared to the previous month, with an average daily trading volume of approximately $16.7 billion. The recovery of DEX in August indicates an increase in on-chain trading demand that bypasses centralized exchanges.

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