Decentralized exchanges (DEX) processed a combined $1.15 trillion in spot and perpetual contract volumes during August, marking the first time monthly DEX activity surpassed the $1 trillion threshold.
According to DefiLlama data, spot DEX volumes reached $506.3 billion in August, falling just $1.5 billion short of the all-time high of $507.8 billion recorded in January.
The August figure represents an 18.4% increase from July’s trading activity, demonstrating sustained growth in on-chain spot trading.
Perpetual contract volumes drove the record-breaking performance, reaching $648.6 billion in August, a 31.3% jump from July and an absolute all-time high for the derivative product category.
The perpetuals surge accounted for 56.4% of total DEX volume during the month.
Ethereum reclaims spot leadership
August marked the first time since March that Ethereum overtook Solana and BNB Chain in spot on-chain trading volume.
Ethereum processed $140.4 billion in monthly spot volume, while Solana registered nearly $120 billion. BNB Chain rounded out the top three with approximately $60 billion in spot trading activity.
Uniswap maintained its position as the dominant spot DEX protocol, capturing 28.2% of total volumes with over $143 billion processed in August. PancakeSwap secured second place with $56.6 billion, while Hyperliquid completed the top three with $21.7 billion in spot volume.
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Author: Gino Matos
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