January 2021 Sees Explosion In Volumes For The World’s DEXs ByAli RazaPRO INVESTOR Last Updated: 05 February 2021 As the years went on, the use of a decentralized exchange (DEX) has seen a significant rise. This large rise in popularity has only been increased thanks to the business world at large starting to embrace cryptocurrencies. DEXs Versus Centralized Exchanges The big sell for DEXs are in their decentralized nature: With no central entity holding responsibility for the operations, they lack the speed and efficiency of centralized exchanges, but do not need to comply with any KYC requirements, regulations, or norms. Instead, these exchanges are regulated through smart contracts, immutable contracts based on blockchain technology. Typically speaking, these DEXs are based within the Ethereum network, though there are one or two outliers. Another key thing going for DEXs is the relative ease it is to list new tokens, as well as providing yield farming to incentivize liquidity. Brand New All-Time Highs Dune Analytics gave out its statistics about the matter at large for January of 2021. There, it showed that the raw number of decentralized exchanges out there have seen a sizable increase. Alongside this, these new exchanges have all experienced an influx of new activity, with trading volume across these exchanges pushing past the $63 billion mark. With this new record, it stands as over twice the record made back in September of 2020. Back then, it was a noteworthy achievement to have the DEXs come close to a collective $30 billion in trade volume, having happened within the DeFi Boom’s peak, as well. The DeFi Arena Remains Fierce Now, however, things have changed, and the new record is twice what it once was. Dune Analytics gave out details regarding the top dogs of the exchange, as well, and it still seems to be Uniswap. The DEX managed to trade an excess of $25.8 billion within August alone. However, Dune Analytics and The Block, a prominent crypto media and analysis provider, seem to have differing ideas. According to the Block, Uniswap managed to move just over $30 billion, with its all-time-high record standing at $60.9 billion. As for Uniswap’s competitors, big names like 0x, SushiSwap, and Bancor hold that title. SushiSwap, the Uniswap fork, is still proving itself to be quite formidable, with the DEX managing to secure almost a quarter of the entirety of DEX trading volumes, with Uniswap taking over just a smidge over half. Other big names in the space, such as Bancor and 0x, boast 7.1% and 7.25% of the entire market share of DEXs.