Volumes on Decentralized Exchanges Soar to an All-Time High of $478,838,000,000 in December: On-Chain Data
Monthly trading volume on decentralized exchanges (DEXes) has reached new all-time highs, according to the latest on-chain data. According to blockchain data aggregator DefiLlama, DEX volume for December was $422 billion, the highest ever on record. The month of November was also an all-time high, according to DefiLlama. Source: DefiLlama Uniswap, Ethereum’s (ETH) biggest DEX, recorded the most amount of volume while Raydium (RAY), the largest DEX on Solana, placed second. Most other chains saw an increase in volume, and DeFI as a sector is growing, perhaps getting a boost from President-elect Donald Trump who has ostensibly given a nod of approval to the sector by launching his own platform – World Liberty Financial (WLFI). The incoming president’s project says that its main mission is to spread US dollar-pegged stablecoins and the concept of DeFi throughout the world. According to World Liberty Financial, stablecoins are the crux of DeFi, and its...