CoinMarketCap ranks the leading decentralized exchanges (DEXs) based on trading volume and market share within the DeFi ecosystem. Below is the latest snapshot of top performers across all networks.
Key Metrics Overview
| Rank | Name | 24h Trading Volume (¥) | Market Share | # Markets | Type | Launched |
|---|---|---|---|---|---|---|
| 1 | PancakeSwap v3 (BSC) | ¥50,293,545,643 | 24.0189% | 1013 | Swap | -- |
| 2 | OpenOcean | ¥48,786,565,055 | 23.2997% | 248 | Aggregator | Dec 2020 |
| 3 | Hyperliquid | ¥44,117,583,369 | 21.0288% | 200 | Derivatives | -- |
| 4 | PumpSwap | ¥16,845,729,918 | 8.0451% | 73 | Swap | -- |
| 5 | Aerodrome SlipStream | ¥3,383,437,633 | 1.6158% | 160 | AMM | -- |
Emerging Trends in Decentralized Trading
- Multi-Chain Dominance: PancakeSwap leads with deployments across BSC, Ethereum, and Arbitrum.
- Aggregator Growth: OpenOcean gains traction by sourcing liquidity from 248 markets.
- Niche Platforms: Hyperliquid specializes in perpetual contracts, capturing 21% market share.
👉 Explore real-time DEX analytics
FAQ: Decentralized Exchanges
Q: How do DEXs differ from centralized exchanges?
A: DEXs enable non-custodial trading via smart contracts, eliminating intermediaries like brokers. Users retain control of their assets.
Q: What risks are associated with DEXs?
A: Smart contract vulnerabilities and impermanent loss are key considerations. Always audit contracts before trading.
Q: Which chains host the most DEX activity?
A: BSC and Ethereum dominate, though Arbitrum and Solana are gaining market share.
Q: How do aggregators like OpenOcean work?
A: They scan multiple DEXs to find optimal trade routes, offering better prices and lower slippage.
Notable DEXs by Category
Automated Market Makers (AMMs)
- Uniswap v3 (Ethereum)
- Curve Finance
- Balancer v2
Derivatives Platforms
- dYdX v4
- GMX (Arbitrum)
- Hyperliquid
👉 Compare trading fees across DEXs
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**Keywords**: decentralized exchanges, DEX ranking, PancakeSwap, OpenOcean, Hyperliquid, DeFi trading, cryptocurrency markets, AMM platforms
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