Decentralized exchange volumes hit $23.5 billion in September

Data for September shows that decentralized exchanges saw more than $23 billion in trade volume for the month.

The approximately $23.5 billion in volume reflects a 103% month-over-month increase compared to August's $11.6 billion, according to data published by Dune Analytics, which tracks volumes in the DEX ecosystem. September's volume figure is higher than previously reported.

Two leading decentralized exchanges made up most of September's volume, with Uniswap making up 65% and Curve making up 22%. Uniswap's volume grew by 128% on a month-to-month basis, most likely fueled by the launch of its governance token.