Decentralized exchanges near $100 billion in monthly volume for November

Monthly data for decentralized exchanges (DEXs) indicates that the ecosystem has seen nearly $100 billion in volume for the month of November.

According to The Block's Data Dashboard, the total for November is approximately $99.5 billion as of November 28. Monthly volumes have climbed since hitting a low for the year of $56.35 billion in July, with the November figure surpassing October's $89.15 billion.

As expected, Uniswap v3 and v2 exchange protocols have constituted the bulk of the monthly volume for November, reporting $47.37 billion and $24.07 billion, respectively.

According to CoinGecko, the USDC/ETH trading pair was the most active on Uniswap v3, accounting for approximately 654.4 million in volume during the past 24 hours. CoinGecko reports $1.49 billion in overall volume for the protocol in the past day. 

To date, monthly volumes peaked in May, when DEXs reported a total of $162.83 billion in volume.