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<ul><li>UNI dominates DEXs with a 70% market share in May 2023, despite declining volumes.</li><li>DEXs outperform CEXs with a smaller -30.8% drop in spot trading volume.</li><li>CAKE and Curve gain traction as notable players in the decentralized exchange ecosystem.</li></ul>In the rapidly evolving world of cryptocurrencies, <a href="https://www.coingecko.com/en/exchanges/decentralized" rel="noopener noreferrer nofollow">decentralized</a> exchanges (DEXs) have been gaining popularity for their promise of increased security and user control. A recent report on the monthly market share of the top 10 DEXs by spot trading volume and total trading volume from January to June 2023 shed light on the latest trends in the decentralized trading landscape.According to the <a href="https://www.coingecko.com/research/publications/2023-q2-crypto-report" rel="noopener noreferrer nofollow">report,</a> spot trading volume on the top 10 DEXs totaled $155 billion in 2023. However, there was a noticeable -30.8% drop in volumes compared to the previous period. Surprisingly, despite the ongoing memecoin season, the volumes on DEXs failed to experience a significant uptick. Nevertheless, DEXs still outperformed centralized exchanges (CEXs), as the latter experienced a more significant decline of 43.2% in trading volumes during the same period.Topping the charts among decentralized exchanges was Uniswap, which maintained its position as the largest DEX. Uniswap&#39;s dominance reached an impressive 70% in May 2023. Established in 2018, Uniswap V3 on the Ethereum network offers an extensive selection of 908 coins and 1802 trading pairs. The platform&#39;s 24-hour trading volume stood at $449,594,175.50, with the most active trading pair being WETH/USDC, boasting a 24-hour volume of $153,902,020.53.Another notable DEX, Curve, released its crvUSD stablecoin in May but failed to see a significant uptick in volume. By the end of June, Curve held 11% of the market share. On the Ethereum network, Curve offers 71 coins and 97 trading pairs, with a 24-hour trading volume of $113,085,794.56. The USDC/USDT trading pair was the most active, recording a 24-hour volume of $29,601,660.66.Pancakeswap, established as the third decentralized cryptocurrency exchange, has been gaining traction on the Binance Smart Chain (BSC). With 197 coins and 623 trading pairs available, Pancakeswap V3&#39;s 24-hour trading volume reached $74,748,362.68.Read full article at <a href="https://cryptotale.org/decentralized-exchanges-in-2023-uni-reigns-amidst-declining-volumes/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Decentralized Exchanges in 2023: UNI Reigns Amidst Declining Volumes

Decentralized Exchanges in 2023: UNI Reigns Amidst Declining Volumes

CryptoTale

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