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The DEX market sector offers little alpha for investors today.
Agree or disagree?
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.
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Solana is the top venue for onchain trading. Among the top 5 chains by DEX trading volume, Solana, BNB Chain, and Ethereum command ~85% market share. Base and Arbitrum One have ~7-8% market share each.
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🎢 The DEX market is volatile. The combined daily trading volume for the top 5 chains is down ~75% from the January '25 peak. Since the start of the year, the combined daily trading volume has peaked at ~$45.1B and bottomed at ~$3.4B.
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📈📉 The DEX business is a lot more volatile vs. lending & stablecoins. Revenue quality, from best to worst: 1. Stablecoin issuers 2. Lending protocols 3. DEXs Do you agree? Growth rates for 3 market sector-wide metrics, indexed to 90d ago.
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The two fastest growing @Uniswap deployments: @unichain & @BNBCHAIN, where the daily trading volumes are up 24.3x and 13.4x, respectively, in the past 30d. Daily trading volume growth rate, indexed to 30d ago.
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ICYMI: @solana continues to be the top onchain trading venue by daily volume. Daily DEX volumes by chain (top 5 chains) during the past month.
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