<p>Decentralized exchanges (DEXs) reported more than $1 trillion in trading volumes in the year 2021, according to The Block Research.</p> <p>That figure is a massive 858% increase compared to 2020 DEX trading volumes, based on data as of December 23. Last year, DEXs facilitated over $115 billion in trading volumes.</p> <p>Overall, monthly DEX trading volume <a href="https://www.theblockcrypto.com/data/decentralized-finance/dex-non-custodial">peaked</a> in May 2021 at $162.8 billion. The most considerable month-over-month growth was in January, with a 137.3% gain, per The Block Research's 2022 Digital Asset Outlook Report.<br /> <br /> <iframe frameborder="0" height="420" src="https://embed.theblockcrypto.com/data/decentralized-finance/dex-non-custodial/dex-volume-monthly/embed" title="DEX Volume" width="100%"></iframe></p> <p>Uniswap continues to dominate the DEX market. It has a share of <a class="c-link" tabindex="-1" href="https://www.theblockcrypto.com/data/decentralized-finance/dex-non-custodial/share-of-dex-volume-monthly" target="_blank" rel="noopener noreferrer" data-stringify-link="https://www.theblockcrypto.com/data/decentralized-finance/dex-non-custodial/share-of-dex-volume-monthly" data-sk="tooltip_parent" data-remove-tab-index="true">over 75%</a> this month to date as of this writing.</p> <p><em>Read the full 2022 Digital Asset Outlook Report <a href="https://www.tbstat.com/wp/uploads/2021/12/The-Block-Research-2022-Digital-Asset-Outlook.v2.pdf">here.</a></em></p>