{"id":90553,"date":"2025-11-03T10:07:16","date_gmt":"2025-11-03T08:07:16","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=90553"},"modified":"2025-11-03T09:12:36","modified_gmt":"2025-11-03T07:12:36","slug":"dex-volumes-hit-a-record-613-3bn-in-october","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/dex-volumes-hit-a-record-613-3bn-in-october\/","title":{"rendered":"DEX volumes hit a record $613.3bn in October"},"content":{"rendered":"<p>In October, cumulative trading volume on decentralised exchanges (<a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-decentralised-exchange-dex\">DEX<\/a>) reached an all-time high of $613.3bn, according to <a href=\"https:\/\/defillama.com\/dexs\">DeFi Llama<\/a>.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"444\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-4ea5952eb7b47101-8546163607395592-1024x444.png\" alt=\"image\" class=\"wp-image-268787\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-4ea5952eb7b47101-8546163607395592-1024x444.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-4ea5952eb7b47101-8546163607395592-300x130.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-4ea5952eb7b47101-8546163607395592-768x333.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-4ea5952eb7b47101-8546163607395592-1536x666.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-4ea5952eb7b47101-8546163607395592.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: DeFi Llama.<\/figcaption><\/figure>\n<p>The previous record was set in January, when the metric first reached $560.2bn.<\/p>\n<p>In October, <a href=\"https:\/\/forklog.com\/en\/news\/what-is-uniswap-uni\">Uniswap<\/a> led with $165bn in monthly volume. <a href=\"https:\/\/forklog.com\/en\/news\/what-is-pancakeswap-a-uniswap-style-dex-on-binance-smart-chain\">PancakeSwap<\/a> and HumidiFi followed with $96bn and $35bn, respectively.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"584\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-6381b6729b282b0b-8546175991766103-1024x584.png\" alt=\"image\" class=\"wp-image-268788\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-6381b6729b282b0b-8546175991766103-1024x584.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-6381b6729b282b0b-8546175991766103-300x171.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-6381b6729b282b0b-8546175991766103-768x438.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-6381b6729b282b0b-8546175991766103-1536x875.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-6381b6729b282b0b-8546175991766103.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Top-10 DEX by trading volume. Source: DeFi Llama.<\/figcaption><\/figure>\n<p>Trading in perpetual contracts on <a href=\"https:\/\/forklog.com\/en\/news\/perp-dex-old-tricks-new-tech\">perp-DEX<\/a> reached $1.3trn\u2014an all-time high. <a href=\"https:\/\/forklog.com\/en\/news\/the-price-of-popularity-and-a-lesson-for-all-hyperliquid\">Hyperliquid<\/a> led with $285bn. Aster ($281bn) and Lighter ($266bn) completed the top three.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"444\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-3b112025da69f4bf-8546187733818272-1024x444.png\" alt=\"image\" class=\"wp-image-268789\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-3b112025da69f4bf-8546187733818272-1024x444.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-3b112025da69f4bf-8546187733818272-300x130.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-3b112025da69f4bf-8546187733818272-768x333.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-3b112025da69f4bf-8546187733818272-1536x666.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-3b112025da69f4bf-8546187733818272.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/defillama.com\/perps\">DeFi Llama<\/a>.<\/figcaption><\/figure>\n<p>Centralised exchanges (CEX) posted a 2025 record of $2.17trn, the highest since January. Binance led with $810.4bn.<\/p>\n<p><iframe loading=\"lazy\" width=\"100%\" height=\"420\" frameborder=\"0\" src=\"https:\/\/www.theblock.co\/data\/crypto-markets\/spot\/cryptocurrency-exchange-volume-monthly\/embed\" title=\"Cryptocurrency Monthly Exchange Volume\"><\/iframe><\/p>\n<p>The DEX\/CEX volume ratio <a href=\"https:\/\/www.theblock.co\/data\/decentralized-finance\/dex-non-custodial\/dex-to-cex-spot-trade-volume\">rose<\/a> from 18.8% in September to 19.8% in October.<\/p>\n<p>Min Jun of Presto Research linked the surge in exchange activity to <a href=\"https:\/\/forklog.com\/en\/news\/whales-adl-and-the-end-of-the-bull-what-really-happened-on-cryptos-black-saturday-2\">the 11 October market sell-off<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;The crash caused significant instability and spurred trading as portfolios were rebalanced. Activity may persist if new drivers of volatility emerge, such as news about US\u2013China trade relations or macro data,&#8221; he said in a comment to <\/em><a href=\"https:\/\/www.theblock.co\/post\/377197\/dex-volume-all-time-high-october\"><em>The Block<\/em><\/a><em>.<\/em><\/p>\n<\/blockquote>\n<p>Kronos Research\u2019s chief investment officer, Vincent Liu, added that hype around <a href=\"https:\/\/forklog.com\/en\/news\/cz-heralds-memecoin-season-on-bnb-chain\">meme coins on BNB Chain<\/a> and <a href=\"https:\/\/forklog.com\/en\/news\/zcash-overtakes-monero-by-market-capitalisation\">anonymous cryptocurrencies<\/a> also boosted volumes. He said the trend could continue in November.<\/p>\n<h2 class=\"wp-block-heading\">Another record<\/h2>\n<p>The Ethereum network set a new record. In October, monthly transactions with <a href=\"https:\/\/forklog.com\/en\/news\/what-are-stablecoins\">stablecoins<\/a> in the ecosystem reached $2.8trn.<\/p>\n<p><iframe loading=\"lazy\" width=\"100%\" height=\"420\" frameborder=\"0\" src=\"https:\/\/www.theblock.co\/data\/stablecoins\/usd-pegged\/on-chain-volume-of-stablecoins-monthly\/embed\" title=\"Ethereum On-chain Volume of Stablecoins\"><\/iframe><\/p>\n<p>It was up 45% from September\u2019s $1.94trn.<\/p>\n<p>The leader was <a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-usdc-stablecoin\">USDC<\/a> from Circle, at $1.6trn. Transactions in <a href=\"https:\/\/forklog.com\/en\/news\/what-is-tether-usdt\">USDT<\/a> from Tether exceeded $895bn. The third \u201cstable coin\u201d was <a href=\"https:\/\/forklog.com\/en\/news\/what-are-makerdao-mkr-and-the-dai-stablecoin\">DAI<\/a> from Sky (formerly MakerDAO), at $136bn.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Stablecoins have become one of the most dynamic sectors after <\/em><a href=\"https:\/\/forklog.com\/en\/news\/week-in-review-circles-ipo-and-bitcoin%e2%80%91etf-futures-debut-on-the-moscow-exchange\"><em>Circle&#8217;s IPO<\/em><\/a><em> and the passage of the <\/em><a href=\"https:\/\/forklog.com\/en\/news\/donald-trump-enacts-stablecoin-legislation\"><em>GENIUS Act<\/em><\/a><em>. The highest activity has been in yield farming; new \u201cstable coins\u201d with innovative concepts are attracting users,&#8221; Min stressed.  <\/em><\/p>\n<\/blockquote>\n<p>The sector\u2019s market capitalisation reached $307bn. Around 60% of the market is accounted for by USDT.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"303\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-66f2797783fce9c3-8546244051344563-1024x303.png\" alt=\"image\" class=\"wp-image-268790\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-66f2797783fce9c3-8546244051344563-1024x303.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-66f2797783fce9c3-8546244051344563-300x89.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-66f2797783fce9c3-8546244051344563-768x227.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-66f2797783fce9c3-8546244051344563-1536x454.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-66f2797783fce9c3-8546244051344563.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/defillama.com\/stablecoins\">DeFi Llama<\/a>.<\/figcaption><\/figure>\n<p>Earlier, Tether International\u2019s net profit for the first nine months of 2025 <a href=\"https:\/\/forklog.com\/en\/news\/tethers-profits-surpass-10-billion-in-2025\">exceeded<\/a> $10bn.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In October, cumulative trading volume on decentralised exchanges hit an all-time high of $613.3bn.<\/p>\n","protected":false},"author":1,"featured_media":90554,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"DEX share of crypto-exchange volume rose to 20%","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,787,46,807],"class_list":["post-90553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-dex","tag-ethereum","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"331","promo_type":"1","layout_type":"1","short_excerpt":"DEX share of crypto-exchange volume rose to 20%","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=90553"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90553\/revisions"}],"predecessor-version":[{"id":90555,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90553\/revisions\/90555"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/90554"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=90553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=90553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=90553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}