Total DEX volume on Ethereum surpasses $2.3B in 2019, with IDEX leading the market

2019 has seen a total of more than $2.3 billion in trade volume on ethereum-based decentralized exchanges (DEXs), with IDEX, Oasis, and Kyber being the top three projects by volume, according to a new data dashboard by ethereum analytics site Dune Analytics. 

The dashboard, which went live on Thursday, shows that IDEX has hit a total trading volume of over $845 million in 2019, followed by Oasis' ~$491 million and Kyber's ~$375 million.

Over the past seven days, Ethereum DEX has seen 60% weekly volume growth and hit a ~$49 million trading volume. IDEX also attracted the most traders in the past 7 days, counting 2,582 unique trading addresses on its site. 

Launched around a year ago, Uniswap is still young compared to IDEX and Oasis, both of which were founded between 2016 and 2017. However, its market share experienced the most substantial growth over the past three months, from 15.5% on Sept. 23 to 31.9% on Dec. 9, and at one time hit 40% at the beginning of this month.

Meanwhile, Oasis and 0x saw shrinking or stagnated market shares over the same period. 

All DEXs experienced a spike on Nov. 18 when MakerDAO launched Multi-Collateral Dai, a new stablecoin that can be created by using several different tokens as collateral.