DEX Trading Volume Reaches New Record High of $474 Billion in May 2025

In a sign of surging market activity, decentralized exchange (DEX) trading volume soared to an astounding $474 billion in May 2025 across various blockchain networks. This marks the second-highest monthly total recorded, exceeding previous peaks and indicating a significant boost in cryptocurrency transactions. Leading platforms such as Uniswap and PancakeSwap played a key role in this growth, with Uniswap maintaining its dominance as the top DEX, securing over $2.67 billion in 24-hour trading volume, and PancakeSwap seeing strong performance on the BNB Chain.