July trading volume on decentralized exchanges set its second consecutive record high, rising 174% from June, according to data from Dune Analytics.
- Aggregate trading volume on decentralized exchanges reached $4,32 billion in July, up from $1.52 billion in June.
- 41% of Julyâs volume came from Uniswap, on which traders speculate on assets ranging from âa better Bitcoinâ to a coin named after fried chicken.
- CoinDesk previously reported trading volume topped Juneâs record part way through July.
- âDecentralized finance has exploded over the past couple months.Â Weâve seen the largest use cases as trading, and borrowing and lending,â said Kyle Davies, co-founder of Three Arrows Capital. âI expect this trend to continue.â
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.