Ethereum News Today: DEX Trading Volume Surpasses $1 Trillion for First Time in July

Decentralized exchanges (DEXs) achieved a historic milestone in July, with their combined monthly trading volume surpassing $1 trillion for the first time [1]. According to data from DefiLlama, spot trading volume on DEX platforms increased by 29.4% to nearly $514 billion, falling just short of the all-time high set in January at $568 billion. Perpetual futures also saw a 33.6% increase in monthly volume, reaching a record $487 billion. Hyperliquid led the surge in perpetual trading, achieving a new monthly volume of $313.4 billion, capturing 64.3% of the market and far outpacing the second-largest platform, Jupiter, which recorded $19.4 billion in volume.

BNB Chain remained the dominant blockchain for spot trading for the third consecutive month, with a 15.3% increase in trading volume, reaching $196.3 billion—accounting for 38.2% of the total DEX spot volume. PancakeSwap, the native exchange of the BNB Chain, was the main driver behind this growth, contributing $188.2 billion in spot volume alone—surpassing the combined volume of the next four largest DEXs [1]. Meanwhile, Ethereum and Solana also showed strong performance, with Ethereum registering $86 billion in spot volume—a 49.3% increase from June—while Solana recorded $85.1 billion, growing 36.6% month-on-month but slipping from second to third place in the rankings.

Layer-2 blockchains Base and Arbitrum continued their positions as the fourth- and fifth-largest in spot trading volume, respectively. Base reported a 46.8% increase in trading volume, reaching $41.6 billion—its first time surpassing $40 billion since January. Arbitrum, however, was the only top-five chain with relatively modest growth, at just 7.4%, with a total spot volume of $19.2 billion.

In the perpetual futures segment, Hyperliquid continued to dominate with a 48.3% increase in volume, reaching $323.4 billion—becoming the first blockchain to surpass the $300 billion threshold. This figure significantly outpaced Ethereum’s $48.7 billion, which held the second-largest volume in the category last month. While Ethereum’s volume grew by nearly 56% in June, it remains far behind Hyperliquid. Solana, BNB Chain, and Arbitrum wrapped up the top five in perpetual trading with volumes of $37.2 billion, $21.6 billion, and $19 billion, respectively.

The performance of DEXs across different blockchains highlights the growing maturation of decentralized finance and the increasing diversification of trading volume across ecosystems. The record-breaking July volume is a strong indicator of the sector’s resilience and expanding user base, even amid broader crypto market volatility.

Source: [1] DEX Trading Volume Tops $1T for the First Time in July, Hyperliquid Leads Record Perp Surge (https://cryptoslate.com/dex-trading-volume-tops-1t-for-the-first-time-in-july-hyperliquid-leads-record-perp-surge/)