Trading on decentralized exchanges has hit a record high of $56 billion in Jan. 2021, with Uniswap alone accounting for more than $25 billion of the trading volume.
- The record monthly volume is a significant leap in since Q4 2020, which saw monthly volumes between $20 - $25 billion
- All DEXs experienced a surge in trading volume as the market began rallying in Jan. 2021
- Uniswap recorded roughly $25.9 billion in monthly trading volume, which is more than double than the $12.6 billion of Dec. 2020; the exchange holds 49.06% of the market share
- Uniswap’s position as the market’s premier DEX has even resulted in it generating more fees than the Bitcoin network on Jan. 25
- Uniswap’s main competitor, SushiSwap, has also gained a lot of ground since the start of the year, now representing roughly 23.2% of the DEX market
- 400 UNI tokens were airdropped to users in Sep. 2020, which has netted them over $7000, at the current price of $18.98