Decentralized Exchanges (DEX) reported over $ 1 trillion in trading volumes in the year 2021, according to The Block Research. This figure represents a whopping 858% increase over 2020 DEX trading volumes, based on data as of December 23. Last year, DEXs facilitated over $ 115 billion in trading volumes.
Overall, monthly DEX trading volume peaked in May 2021 at $ 162.8 billion. The most notable monthly growth was in January, up 137.3%, according to The Block Research's Digital Asset Outlook Report 2022. Uniswap continues to dominate the DEX market. It has a share of over 75% this month to date as of this writing.