DEX Trading Volume Drops 11.61% to $56.75 Billion This Week as Uniswap, PancakeSwap, Raydium, Aerodrome, and Others Record Trading Activity

In the present day, market analyst Phoenix Group listed the highest DEXs by buying and selling quantity. The itemizing comes after a current vital fall in decentralized trade (DEX) buying and selling quantity, partly because of elevated bear sentiments within the wider crypto market triggered by macroeconomic uncertainty, amongst different elements. In keeping with metrics from DeFiLlama, decentralized trade quantity dropped to $397.78 billion in November from a excessive of $568.43 billion famous in October. DeFiLlama’s knowledge recognized the report observed in November because the lowest month-to-month whole for DEXs since June.

Phoenix Group additional confirmed this market decline. Its newest knowledge reported at the moment identified that every one DEXs mixed skilled an total $56.75 billion in buying and selling quantity within the final seven days, a lower by 11.61% in comparison with the earlier week. Additionally, in response to the information, the DEX-to-CEX quantity ratio dropped to 11.46% in December, down from 15.73% in November, displaying a better shift in market exercise again in the direction of CEXs (centralized exchanges).

Prime DEXs By Buying and selling Quantity This Week

UniSwap

UniSwap, a DEX constructed on Ethereum, processed buying and selling quantity of $13.92 billion over the previous seven days, making it the highest of the listing, in response to the Phoenix Group knowledge. UniSwap continues to solidify itself as a market chief within the decentralized trade sector, persistently recording vital buying and selling volumes and offering deep liquidity throughout a number of chains and buying and selling platforms. Its current enterprise collaboration (strategic integration) with European monetary app Revolut is a part of the catalyst making Uniswap preserve its dominance. Yesterday, Uniswap built-in Revolut to permit customers to straight purchase crypto belongings through Revolut by the Uniswap cellular pockets and Internet software.

PancakeSwap

PancakeSwap, a DEX constructed on the BNB Chain, is the second-largest DEX platform by weekly buying and selling quantity, as per the information. It recorded a buying and selling quantity of $11.61 billion over the previous week. As per Phoenix Group metrics, PancakeSwap processed $70.56 billion in quantity final month, November 2025. Moreover, the trade registered $529 million in quantity throughout Q2. This exceptional progress comes following the rollout of PancakeSwap Infinity, a major community improve launched in April 2025. The replace launched superior liquidity swimming pools that allow customers to run more practical buying and selling methods whereas sustaining on-chain transparency.

Raydium

Raydium has recaptured its prime place as the biggest Solana-based DEX platform. As reported within the knowledge, Raydium processed a weekly buying and selling quantity of $3.60 billion within the final seven days, making it the third-largest DEX globally and the highest decentralized trade on the Solana blockchain. Final month, HumidiFi overtook Raydium and Meteora after the DEX processed month-to-month buying and selling quantity of $34 billion and finally emerged as Solana’s No.1 DEX platform. The most recent metrics present Raydium’s continued dominance on Solana.

Aerodrome

Fourth on the listing is Aerodrome, a number one DEX on the Ethereum Layer-2 community Base. The hacking incident final week has not scared customers from buying and selling on Aerodrome, as indicated by the $2.91 billion buying and selling quantity processed on the DEX previously seven days. Aerodrome skilled a front-end compromise on November 23, and in consequence, suggested its clients to make use of decentralized mirrors to entry the platform. The buying and selling quantity showcases vital consumer belief in Aerodrome’s DEX.

Curve Finance

Curve Finance, a DEX protocol constructed on Ethereum, processed the fifth-largest buying and selling quantity with a determine of $2.79 billion previously week. The report is a part of Curve Finance’s vital income progress witnessed final month and in Q3.

Different Prime Market Performers

Different DEXs with excellent buying and selling quantity skilled previously week embrace Meteora, Orca, Hyperliquid, and LFJ, as illustrated within the knowledge.