Decentralized exchanges saw $56 billion in monthly volumes for July

Decentralized exchanges saw $56.47 billion in volume during the month of July, representing another monthly decline.

According to The Block's Data Dashboard, 65% of the monthly volume figure was derived from Uniswap v2 and v3 — $10.6 billion and $26.57 billion, respectively. SushiSwap and Curve posted $6.07 billion and $5.13 billion in monthly volumes, respectively.

The monthly figure signifies another month-over-month decline, compared to June's $80.85 billion. The DEX ecosystem peaked volume-wise in May, posting $162.02 billion in volume, as noted in the chart above. Uniswap's v3 went live that month.

According to the Data Dashboard, the percentage of spot trade volume on DEXs compared to centralized exchanges was 8.98% for the month, a slight increase from June's figure.