Uniswap's monthly trade volume exceeded Coinbase's in September

Market data collected by The Block Research shows that, for the first time, Uniswap's monthly trade volume exceeded that of crypto exchange Coinbase. 

During September, Uniswap saw approximately $15.4 billion in volume — making up 65% of the total reported by DEXs for that month, which was $23.5 billion.

By comparison, Coinbase reported $13.6 billion in monthly trade volume. 

In another chart compiled by The Block's Mika Honkasalo, the DEX-to-CEX ratio rose to 13.9% in September, a new high. In August, that ratio was 6.06%.