DEX trading volume fell 11.61% to $56.75 billion this week as Uniswap, PancakeSwap, Raydium, Aerodrome and others recorded trading activity.

Immediately, market analyst Phoenix Group has listed the highest DEXs by buying and selling quantity. The itemizing comes within the wake of a current vital decline in decentralized trade (DEX) buying and selling quantity, due partly to a rising bearish temper throughout the cryptocurrency market, particularly within the wake of macroeconomic uncertainty. In accordance with DeFiLlama metrics, buying and selling quantity on decentralized exchanges fell from a excessive of $568.43 billion in October to $397.78 billion in November. The document set in November turned out to be the bottom month-to-month whole for DEX since June, in accordance with information from DeFiLlama.

Phoenix Group additional confirmed this market decline. In accordance with the most recent information reported right this moment, the general buying and selling quantity of all DEXs mixed previously seven days was $56.75 billion, a lower of 11.61% in comparison with the earlier week. The information additionally exhibits that the DEX to CEX quantity ratio in December fell to 11.46% from 15.73% in November, indicating that market exercise is basically returning to CEXs (centralized exchanges).

This week’s prime buying and selling quantity DEX

uniswap

UniSwap, a DEX constructed on Ethereum, topped the record with $13.92 billion in buying and selling quantity over the previous seven days, in accordance with Phoenix Group information. UniSwap continues to determine itself as a market chief within the decentralized trade sector, constantly recording excessive buying and selling volumes and offering plentiful liquidity throughout a number of chains and buying and selling platforms. A current enterprise partnership (strategic integration) with European monetary app Revolut is a part of the catalyst for Uniswap to take care of its dominance. Yesterday, Uniswap built-in Revolut, permitting customers to buy crypto belongings instantly by Revolut by the Uniswap cell pockets and internet utility.

pancake swap

In accordance with information, PancakeSwap, a DEX constructed on the BNB chain, is the second largest DEX platform by weekly buying and selling quantity. The buying and selling quantity for the previous week was $11.61 billion. Pancake Swap processed $70.56 billion in buying and selling quantity final month in November 2025, in accordance with Phoenix Group metrics. Moreover, the trade recorded a buying and selling quantity of $529 million through the second quarter. This spectacular progress got here after the rollout of PancakeSwap Infinity, a major community improve that started in April 2025. This replace introduces superior liquidity swimming pools that enable customers to execute simpler buying and selling methods whereas sustaining on-chain transparency.

Radium

Raydium regains the highest spot as the most important Solana-based DEX platform. As reported within the information, Raydium processed a weekly buying and selling quantity of $3.6 billion previously seven days, making it the third largest DEX on the earth and the highest decentralized trade on the Solana blockchain. Final month, HumidiFi overtook Raydium and Meteora to lastly emerge as Solana’s No. 1 DEX platform after the DEX processed $34 billion in month-to-month buying and selling quantity. Newest metrics present continued dominance of Radium over Solana.

airfield

Fourth on the record is Aerodrome, a number one DEX primarily based on the Ethereum Layer 2 community. Final week’s hacking incident would not scare customers away from buying and selling at Aerodrome, as evidenced by the $2.91 billion in commerce quantity processed on the DEX over the previous seven days. Aerodrome skilled a front-end breach on November twenty third, and because of this suggested clients to make use of distributed mirrors to entry the platform. The buying and selling quantity exhibits the excessive stage of belief customers have in Aerodrome’s DEX.

curve finance

Curve Finance, a DEX protocol constructed on Ethereum, processed the fifth-largest quantity of trades at $2.79 billion over the previous week. This document is a part of the robust income progress Curve Finance noticed final month and within the third quarter.

Different prime market performers

Different DEXs which have seen vital buying and selling volumes over the previous week embody Meteora, Orca, Hyperliquid, and LFJ, as proven within the information.