The decentralized exchanges (DEX) processed a total of 1.15 trillion USD in spot (spot) and perpetual (perpetual) contracts in August, marking the first time monthly activity on the DEX exceeded 1 trillion USD.
According to data from DefiLlama, the spot trading volume reached 506.3 billion USD, just 1.5 billion USD short of the record high of 507.8 billion USD in January. This figure represents an increase of 18.4% compared to July, indicating that the demand for on-chain trading continues to expand.
Meanwhile, perpetual contracts play a key role, with a volume of 648.6 billion USD in August, an increase of 31.3% compared to July, setting an all-time high for this derivative product. Perpetual trading accounted for 56.4% of the total volume on the DEX in the month.
Ethereum regains its leading position in spot trading
August marked the first time since March that Ethereum surpassed Solana and BNB Chain in on-chain spot trading volume. Ethereum recorded $140.4 billion, Solana reached nearly $120 billion, while BNB Chain ranked third with approximately $60 billion.
Among DEX protocols, Uniswap continues to hold a dominant position with 28.2% market share, handling over 143 billion USD. PancakeSwap ranks second with 56.6 billion USD, and Hyperliquid stands third with 21.7 billion USD.
In the perpetual segment, the level of concentration is even more pronounced. Hyperliquid asserts its dominant position by capturing up to 62.5% of the market share, with a trading volume of 405.8 billion USD in the month.
Perpetual protocols on Ethereum processed 72.5 billion USD, holding the second position, while the platform on BNB Chain generated 55.1 billion USD. Additionally, edgeX recorded 43.6 billion USD and Orderly reached 23.7 billion USD in August.
The increase in spot trading has helped the DEX trading ratio compared to CEX rise by 0.7 points, reaching 17.2% in August. Throughout 2025, this ratio has consistently remained above 10%, reflecting the growing acceptance of decentralized trading infrastructure.
The milestone of 1.15 trillion USD not only affirms the strong development of decentralized exchanges but also shows that perpetual contract trading on DEX is gradually gaining attraction comparable to centralized exchanges.
Thạch Sanh
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Trading Volume DEX for the first time exceeded 1.1 trillion USD in August
The decentralized exchanges (DEX) processed a total of 1.15 trillion USD in spot (spot) and perpetual (perpetual) contracts in August, marking the first time monthly activity on the DEX exceeded 1 trillion USD.
According to data from DefiLlama, the spot trading volume reached 506.3 billion USD, just 1.5 billion USD short of the record high of 507.8 billion USD in January. This figure represents an increase of 18.4% compared to July, indicating that the demand for on-chain trading continues to expand.
Meanwhile, perpetual contracts play a key role, with a volume of 648.6 billion USD in August, an increase of 31.3% compared to July, setting an all-time high for this derivative product. Perpetual trading accounted for 56.4% of the total volume on the DEX in the month.
Ethereum regains its leading position in spot trading
August marked the first time since March that Ethereum surpassed Solana and BNB Chain in on-chain spot trading volume. Ethereum recorded $140.4 billion, Solana reached nearly $120 billion, while BNB Chain ranked third with approximately $60 billion.
Among DEX protocols, Uniswap continues to hold a dominant position with 28.2% market share, handling over 143 billion USD. PancakeSwap ranks second with 56.6 billion USD, and Hyperliquid stands third with 21.7 billion USD.
In the perpetual segment, the level of concentration is even more pronounced. Hyperliquid asserts its dominant position by capturing up to 62.5% of the market share, with a trading volume of 405.8 billion USD in the month.
Perpetual protocols on Ethereum processed 72.5 billion USD, holding the second position, while the platform on BNB Chain generated 55.1 billion USD. Additionally, edgeX recorded 43.6 billion USD and Orderly reached 23.7 billion USD in August.
The increase in spot trading has helped the DEX trading ratio compared to CEX rise by 0.7 points, reaching 17.2% in August. Throughout 2025, this ratio has consistently remained above 10%, reflecting the growing acceptance of decentralized trading infrastructure.
The milestone of 1.15 trillion USD not only affirms the strong development of decentralized exchanges but also shows that perpetual contract trading on DEX is gradually gaining attraction comparable to centralized exchanges.
Thạch Sanh