In a significant leap for decentralized exchanges (DEX), dYdX has now clinched the title of the largest DEX by daily trading volume, surpassing Uniswap v3 on Ethereum. This milestone follows a strategic migration from Ethereum to Cosmos and the subsequent activation of full trading under the new infrastructure.

According to data from CoinMarketCap, the v4 version of dYdX on Cosmos recorded $542.5 million in trading volume over a 24-hour period, outpacing Uniswap v3’s $464 million. The DEX now holds 10.7% of all the crypto market share.

The official dYdX account celebrated the achievement on CoinMarketCap’s community platform while showing data from January 16, the day when the DEX recorded $761 million in total daily volume—much more than Uniswap’s $529 million.

The shift continues a recent trend of decentralized exchanges on platforms other than Ethereum topping the long-dominant chain. Solana DEX volume Go to Source to See Full Article
Author: Jose Antonio Lanz

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