Trader Joe, the decentralized exchange (DEX) dominating Avalanche, has surpassed PancakeSwap. It is now the second-largest DEX by fees generated in the past 24 hours.
Trader Joe Is The Second Largest DEX After Uniswap
According to an Artemis Researcher citing Token Terminal data, the DEX processed over $142 million in trading volume on the last day, with 98% of fees from tokens based in Avalanche. This dominance points to how crucial the DEX is in the high-throughput blockchain, whose on-chain activity has been rising in recent months.
Trader Joe also confirmed that it facilitated over $100 million in trading volume through its Liquidity Book. Through this feature, traders can create tailored strategies while benefiting from low fees. The Liquidity Book is designed to significantly enhance efficiency and flexibility versus other traditional automated market maker (AMM) platforms like Uniswap.
In the past 24 hours, Trader Joe processed over $216,000 in fees, above $151,000 recorded by PancakeSwap–a DEX on the BNB Chain ecosystem. While impressive, their combined figure is less than half that recorded by Uniswap, a DEX that’s active on multiple platforms and blockchains, including BNB Chain.
During the same period, Uniswap generated over $1.9 million in trading fees, most of which came from Ethereum, where the DEX is actively used.
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Author: Dalmas Ngetich
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