These are the top seven decentralized exchange with the highest trading volumes in the past week

By Selena On May 9, 2020

According to Ethereum data analysis firm Dune Analytics, in four months, the amount of cryptocurrency traded on DEXs is already close to topping the full 12-month volume of 2019. Meanwhile, Ethereum-based decentralized exchange (DEXs) has seen a massive increase in trading volumes in 2020 compared to last year.

??? https://t.co/hurPR0YswY https://t.co/zjdCUPbZlr

— Dune Analytics (@DuneAnalytics) May 4, 2020

DEXs are among the most popular decentralized applications on Ethereum currently, according to DappRadar. Platforms such as Uniswap, Kyber, WeDEX, and IDEX are in the top 10 by the overall number of active users.

Today, AZCoin News will introduce the top 7 decentralized exchanges with the highest trading volumes in the past week.

#1: Decentralized exchange Uniswap

Uniswap is an independent and fully decentralized protocol-based automated liquidity provider of Ethereum cryptocurrency. This is the largest decentralized exchange by trading volume.

The decentralized exchange recorded a volume of over $ 67 million in the past week, with over 8,407 traders visiting the DEX during the time. Because of this trading volume, Uniswap accounted for 46.8% of the global DEX market.

#2: dYdX

Dydx is a decentralized exchange for margin trading. It operates on the Ethereum Blockchain, allowing users to trade, borrow or lend three digital assets — Ether, DAI, and USDC — with leverage of up to 4x. Cryptocurrency loans are emerging as an increasingly viable alternative to borrowing fiat.

Decentralized borrowing and lending already exist in DeFi through popular platforms such as MakerDAO and Compound, but dYdX is focused on building more advanced trading tools on the Ethereum blockchain. Like with other DeFi products, the dYdX protocol is available for anyone to use and build upon–with users’ assets managed by smart contracts instead of people.

In the past year, dYdX has originated well over $1 Billion in loans ?? pic.twitter.com/ZJynUQ7JXy

— dYdX (@dydxprotocol) April 18, 2020

The platform’s business model provided it with $ 25.3 million in trading volume in the past week, with over 587 traders visiting. It accounted for 10.7% of the total trading volume on DEXes. However, based on the Number of traders last seven days, dydx only ranked 5th.

#3: 0x

0x is an open protocol that enables the peer-to-peer exchange of assets on the Ethereum blockchain. Anyone in the world can use 0x to service a wide variety of markets ranging from gaming items to financial instruments to assets that could have never existed before. Based on DEX by volume last seven days, 0x only ranked third, a bit inferior to dYdX with volume $ 25,125,251. Number of traders last seven days of 0x with 358. Besides, the exchange accounted for 12.2% of the DEX trading volume in the past week.

#4: Decentralized exchange Oasis

A decentralized platform that enables users to exchange tokens, borrow Dai, and earn savings, Oasis is built on top of Maker’s smart contracts.

In particular, the statistics of Oasis are as follows:

DEX by volume last 7 days: $ 23,815,709
DEX by volume last 24 hours: $ 1,721,015
Market share: 6.46%
Daily DEX USD volume: $ 1,336,227

Just 309 traders were responsible for the volume during the time.

Source: Dune Analytics

#5: Kyber

Kyber Network is adding a new staking option for token holders once a planned protocol upgrade is implemented in less than two months.

In particular, the statistics of Kyber are as follows:

DEX by volume last 7 days: $ 23,162,944
DEX by volume last 24 hours: $ 3,504,007
Market share: 13.1%
Daily DEX USD volume: $ 3,458,941

5277 traders were responsible for the volume during the time. With this figure, Kyber rose to second place in the Number of traders last seven days.

#6: IDEX

After Kyber is Idex with DEX by volume last seven days are $ 13,507,305. IDEX is the only Ethereum decentralized exchange with real-time trading and high transaction throughput.

In particular, the statistics of IDEX are as follows:

DEX by volume last 24 hours: $ 1,671,695
Market share: 6.27%
Daily DEX USD volume: $ 3,458,941

Source: Dune Analytics

#7: DDEX

DDEX is a standards-setting organization focused on the creation of digital value chain standards to make the exchange of data and information across the music industry more efficient. The features have made it the seventh-largest DEX by trading volume, as it saw $4.180.359 in the past week, gaining just over 3.41% of the market share. But just only 85 traders were responsible for the volume during the time.

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