May DEX Volume Hits $474B, BNB Chain Leads With All-Time High

According to DeFiLlama, decentralized exchange (DEX) trading volume across all chains reached $474.14 billion in May 2025, marking the second-highest monthly volume ever recorded.

BNB Chain stood out with a record $178.23 billion in volume.

Its leading DEX contributed $165.35 billion—also an all-time high for a single DEX.

The surge was driven by the Alpha airdrop and ongoing trading campaigns.