Decentralized exchanges saw their busiest month ever in terms of trade volume, according to new market data.
The raw figures, collected from Dune Analytics, show that DEXs posted a monthly volume of $1.51 billion for June. This development represents a month-over-month increase of 70% – compared to May's $894.2 million – and a 46% increase over the previous all-time high in March, which came in at $1.03 billion.
As the data shows, June's volume data represents the second time that trade activity surpassed the $1 billion mark. By comparison, June 2019 saw a DEX trade volume of $325.9 million.
The automated market-maker protocols Uniswap and Curve contributed the most to June's volume figure, as shown in the market share chart below. Together, they contributed to 53% of the overall volume recorded.
The ratio of DEX volume compared to centralized exchanges remains quite low, but that figure has shifted higher since the beginning of 2020. The chart below shows data as of June 2020.
Editor's Note: This report has been updated with DEX-to-CEX ratio chart that accounts for June's data.
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