In July 2021, there was a weakening in the activity of users of decentralized cryptocurrency exchanges (DEX).
Trading volume fell to $ 56.47 billion last month. Analysts have found that trader activity has been declining over the past few months.
UniSwap, deployed on Ethereum, still tops the list of the largest decentralized exchanges. More than 65% of transactions on DEX fell on this trading platform. In dollar terms, Uniswap v2 and v3 saw deals totaling up to $ 10.6 billion and $ 26.57 billion, respectively.
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SushiSwap and Curve remained in second and third places. Trading volumes on these sites amounted to $ 6.07 billion and $ 5.13 billion in monthly terms, respectively.
A decrease in indicators was observed in June as well, analysts emphasized. Then DEX users made transactions worth up to $ 80.85 billion. In May, the activity of traders, on the contrary, reached its peak values. The trading volume for that month exceeded $ 162.02 billion.