Decentralized exchange volume hits record high of $462B in December
Decentralized exchanges (DEXs) achieved record trading volumes of $462 billion in December, surpassing November's $374 billion. Uniswap led with $106.41 billion, followed by PancakeSwap at $96.42 billion and Solana's Raydium at $58 billion. Solana DApps generated $365 million in revenue in November, primarily from memecoins on Pump.fun. Aerodrome and Orca ranked fourth and fifth with volumes of $31 billion and $22 billion, respectively. In contrast, the memecoin market faced a significant correction, dropping from a peak of $137 billion in market cap on December 9 to $92 billion by December 23, ultimately settling at $95 billion, reflecting a 20% decline since December 1. The initial surge was attributed to increased listings on US trading platforms and Pepe (PEPE) reaching an all-time high.
