CoinMarketCap ranks the leading decentralized exchanges (DEXs) based on 24-hour trading volume and market share dominance in the DeFi ecosystem.
Key Metrics for Ranking DEXs
- Trading Volume (24h): Reflects liquidity and user activity.
- Market Share: Percentage of total DeFi trading volume captured.
- Markets Supported: Number of trading pairs available.
- Type: Aggregator, AMM, Orderbook, etc.
- Launch Date: Indicates platform maturity.
Top 10 Decentralized Exchanges
| Rank | Name | 24h Trading Volume (¥) | Market Share | Markets | Type | Launched |
|------|-------------------------------|--------------------------|--------------|---------|-------------|------------|
| 1 | OpenOcean | 57,684,692,599 | 25.70% | 252 | Aggregator | Dec 2020 |
| 2 | PancakeSwap v3 (BSC) | 50,894,332,761 | 22.68% | 1,014 | AMM | -- |
| 3 | Hyperliquid | 47,240,928,469 | 21.03% | 200 | Orderbook | -- |
| 4 | PumpSwap | 16,335,033,299 | 7.28% | 73 | AMM | -- |
| 5 | Uniswap v3 (Base) | 4,631,312,790 | 2.06% | 571 | AMM | -- |
👉 Explore the full DEX rankings
Emerging Trends in Decentralized Exchanges
- Cross-Chain Aggregators: Platforms like OpenOcean optimize trades across multiple blockchains.
- Layer-2 Adoption: Uniswap v3 on Base and Arbitrum reduces gas fees.
- Hybrid Models: Hyperliquid combines orderbook efficiency with DeFi composability.
FAQ
What factors determine a DEX’s ranking?
Rankings prioritize trading volume and market share, with additional weight given to liquidity depth and security audits.
Why use a DEX over a centralized exchange (CEX)?
DEXs offer non-custodial trading, eliminating counterparty risk, though they may have higher slippage for large orders.
How do aggregators like OpenOcean work?
They scan multiple DEXs to find the best prices, splitting trades to minimize slippage.
👉 Learn how to maximize yields with DEX strategies
Conclusion
The DEX landscape is rapidly evolving, with aggregators and Layer-2 solutions gaining traction. For real-time updates, subscribe to CoinMarketCap’s newsletter on crypto trends, new listings, and DeFi innovations.
Pro Tip: Always verify smart contracts and check liquidity pools before trading.
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