Decentralized exchanges record $1.1 trillion in trading volume as perpetuals drive historic trading month

Decentralized exchanges (DEX) processed a combined $1.15 trillion successful spot and perpetual declaration volumes during August, marking the archetypal clip monthly DEX enactment surpassed the $1 trillion threshold.

According to DefiLlama data, spot DEX volumes reached $506.3 cardinal successful August, falling conscionable $1.5 cardinal abbreviated of the all-time precocious of $507.8 cardinal recorded successful January.

The August fig represents an 18.4% summation from July’s trading activity, demonstrating sustained maturation successful on-chain spot trading.

Perpetual declaration volumes drove the record-breaking performance, reaching $648.6 cardinal successful August, a 31.3% leap from July and an implicit all-time precocious for the derivative merchandise category.

The perpetuals surge accounted for 56.4% of full DEX measurement during the month.

Ethereum reclaims spot leadership

August marked the archetypal clip since March that Ethereum overtook Solana and BNB Chain successful spot on-chain trading volume.

Ethereum processed $140.4 cardinal successful monthly spot volume, portion Solana registered astir $120 billion. BNB Chain rounded retired the apical 3 with astir $60 cardinal successful spot trading activity.

Uniswap maintained its presumption arsenic the ascendant spot DEX protocol, capturing 28.2% of full volumes with implicit $143 cardinal processed successful August. PancakeSwap secured 2nd spot with $56.6 billion, portion Hyperliquid completed the apical 3 with $21.7 cardinal successful spot volume.

The perpetual scenery showed adjacent greater concentration, with Hyperliquid establishing implicit dominance by capturing 62.5% of the marketplace done its $405.8 cardinal successful monthly volume.

Ethereum-based perpetual protocols processed $72.5 billion, securing 2nd place, portion BNB Chain platforms generated $55.1 billion.

Among different perpetual protocols, edgeX captured $43.6 cardinal successful trading volume, portion Orderly processed $23.7 cardinal during August.

The spot measurement summation drove the DEX-to-CEX trading ratio up by 0.7% to 17.2% successful August. Throughout 2025, this ratio has consistently remained supra 10%, indicating sustained adoption of on-chain trading infrastructure.

These numbers bespeak a increasing acceptance of decentralized trading venues, perchance driven by improved idiosyncratic acquisition crossed large DEX platforms.

The $1.1 trillion monthly measurement accomplishment positions decentralized exchanges arsenic a imperishable fixture successful the cryptocurrency marketplace structure, with perpetuals trading yet receiving attraction akin to that of their centralized counterparts.

The station Decentralized exchanges grounds $1.1 trillion successful trading measurement arsenic perpetuals thrust historical trading month appeared archetypal connected CryptoSlate.