Monthly decentralized exchange volumes declined in October, falling to $18.5 billion

Data for October shows that decentralized exchanges (DEXs) saw a 23% decline in trade volume for the month, falling to $18.46 billion from September's $24 billion.

October's volume numbers signify the first decline since April 2020, a sharp contrast from the roughly 103% month-over-month increase from August to September, according to data published by Dune Analytics, which tracks volumes in the DEX ecosystem.

Two major decentralized exchanges comprised the majority of October's volume, with Uniswap accounting for about 60.7% and Curve about 28.1%.