Data interpretation of DEX: transaction volume increased by 100% and weekly transaction volume reached 17 billion US dollars

Author: OurNetwork; Compiler: Shenchao TechFlow

DEXs

Uniswap | PancakeSwap | Raydium | Let's F***ing Joe (Trader Joe)

El Barto | Dashboard

DEX trading volume increased 100% year-on-year; weekly trading volume reached $17 billion

Although the trading volume of decentralized exchanges (DEX) has increased since 2024 That's down somewhat since the peak, but still hovers around $20 billion to $25 billion per week, a 100% increase compared to last year. Solana and Base contributed significantly to transaction volume, with Solana’s transaction volume growing more than 20x, from $170 million to $4 billion. The only blockchain to see a decrease was Ethereum, with weekly transaction volume down around 20%.

< /p>

Artemis

DEX trading is higher than a year ago Even more intense, Ethereum accounted for nearly 60% of the market trading volume at that time. There are currently five blockchains with market transaction shares exceeding 10%. Ethereum remains the largest blockchain with 29%. Base achieved significant market share growth during 2024 and now accounts for over 12% of DEX trading volume across all chains.

< /p>

Artemis

Obvious incidents have also occurred in trading venues changes. Uniswap’s transaction share dropped to 33%, compared to 53% previously. Meanwhile, established DEXs like Solana-based Orca have increased market share, while new exchange Aerodrome has also grown in popularity.

< /p>

DeFiLlama

Uniswap

Uniswap generated $26.4 billion in fees over the past year

One of the most attractive features of Uniswap is that it allows for liquidity provision Investors—that is, users who provide assets to traders—earn revenue. The chart below shows the fees incurred by the V3 pool over the last 12 months. USDC-WETH was the top performer, generating over $4 billion in revenue for liquidity providers (LPs). Uniswap V3 offers multiple rates to charge traders – 0.01%, 0.05%, 0.3% and 1% – providing flexibility for LPs and traders – similar assets, such as stablecoins, often charge lower fees . These tiered fees allow LPs to optimize returns based on the asset’s volatility and trading activity.

< /p>

Coin Metrics

Liquidity in Uniswap V2 Among the pools, the WETH-USDT pool performed best in terms of fee collection, exceeding $1 billion, followed closely by the USDC-WETH and PEPE-WETH trading pairs. Despite the simplicity of V2, V3’s centralized liquidity capabilities attract greater trading volumes due to its greater capital efficiency and lower fees.

< /p>

Coin Metrics

Although Uniswap is liquid Providers (LPs) generate significant revenue, $UNI is just a governance token and lacks mechanisms like token burning that might enhance its value. 60% of UNI allocated to communities in 2021. This $UNI HOLD Wave chart shows some interesting trends.

< /p>

Coin Metrics

Transaction Highlights: This time The transaction shows the transfer of 500,000 $UNI (approximately $3.5 million) from Uniswap’s timelock contract, which is part of its distribution mechanism. This system ensures that tokens are distributed gradually, aligned with long-term interests, and provides transparency. Analyzing these transfers can provide insight into allocation progress, potential market impact, internal behavior, possible changes in governance authority, and the health of the protocol.

Pancakeswap

Seb | Website | Dashboard

PancakeSwap’s $CAKE supply decreased by 7.8 million after one year

PancakeSwap is A decentralized exchange that originated on BSC and now operates on multiple blockchains - this DEX issues $CAKE tokens as rewards to liquidity providers (LPs). In 2023, PancakeSwap adopted a deflation model to optimize its token economics. This is achieved through the mechanism of reducing issuance and recycling $CAKE from the market. Their efforts quickly bore fruit, as CAKE supply peaked at 391.3 million in August 2023. Since then, the supply has steadily decreased, losing 7.8 million tokens over the past year.

< /p>

X - Sebabesse

In order to achieve this To target deflation, PancakeSwap performs token burning every week by sending CAKE to the burning wallet on the BNB chain. According to their token economic model, an average of 9 million CAKE is burned per week. Lower mintage volumes and market recycling offset minting volumes.

< /p>

X - @Sebabesse 

Deflation is affected by market factors, such as trading volume and CAKE price. Over time, the deflation rate ranges from 1.4 CAKE to 0.2 CAKE between each block. Based on current token economics, this weekly supply reduction requires 275K CAKE to be withdrawn from the market. This goal is achieved almost every week.

< /p>

X - @Sebabesse

Transaction Highlights: The team wallet conducts token destruction every Monday. Monitoring these transactions is all the information you need to track your CAKE supply.

Raydium

0xINFRA | Website | Dashboard

Raydium buyback total exceeds $35 million since January 1st

Raydium is Solana leads decentralized exchanges (DEX) by market share and liquidity pool creation volume. Since January 1, 2024, over $35 million in protocol fees has been allocated for automatic buybacks of $RAY tokens. Raydium accounted for an average of 30% to 50% of cumulative spot market volume on Solana during the year. Since its inception, Raydium has achieved nearly $270 billion in trading volume, with liquidity providers (LPs) earning more than $630 million in trading fees.

< /p>

Top Ledger

After removing the trading robot, Considering real transaction volume, Raydium's exchange routing program performs well and currently accounts for over 30% of all real transaction flow, second only to Jupiter.

< /p>

Dune - @ilemi

Although Solana One of the main platforms benefiting from the booming meme token trading volume on the Internet, but currently only 11.4% of Raydium’s total trading volume comes from meme tokens.

< /p>

Top Ledger

Deal highlights: Raydium benefits It relies on a rich ecosystem of third-party applications and protocols that use its core liquidity pool and trading infrastructure. The most beneficial is Pump.Fun, which migrates the flow cell to Raydium after completing the initial binding curve. Other teams leveraging Raydium infrastructure include, but are not limited to, Dexscreen’s MoonShot, Trojan, BananaGun, FluxBot, BonkBot, Photon, and BullX.

LFJ

Blue | Website

LFJ reaches US$130 billion in cumulative trading volume and exceeds US$5 million in 2024 revenue

LFJ (formerly Trader Joe) is a blockchain token trading marketplace that launched in July 2021 and has facilitated more than $130 billion in cumulative trading volume since then. In 2024, LFJ added more than $30 billion in trading volume, double last year’s volume. This growth was primarily driven by increased trading activity on the Avalanche network, where LFJ holds a dominant position.

< /p>

DeFiLlama

LFJ will be 5%-25 % of transaction fees are allocated to $JOE token stakers, with an average of $550,000 in stablecoins issued per month in 2024, which is a 109% increase from last year. Because 80% of revenue comes from Avalanche, increased on-chain activity brings significant value to JOE stakers.

< /p>

Token Terminal

$JOE token has been The issuance limit of 500 million has been reached, and the current circulation is about 380 million. Since there is no fixed reward plan, JOE is rarely used as a liquidity reward. To date, less than $100,000 has been distributed to yield farmers while maintaining positive yields of over $5 million.

< /p>

Token Terminal