According to defillama.com, decentralized finance (defi), has seen a tremendous increase in value this year. As the end of 2021 nears, more than $250 million is locked in defi protocol assets. Metrics also show that Uniswap has the highest 24-hour volume of any blockchain platform dex apps, with $1.45 Billion today. Data also shows that Uniswap holds an estimated $8.81 billion in total value (TVL), which is less than Curve Finance’s $22.36 billion TVL.
Below Uniswap, with $848M in 24-hour volume, is Pancakeswap. Below Pancakeswap is Trader Joe (453.7M), Curve (453.1M), Sushiswap $401M), Uniswap v2(380M), Spookyswap (185M) and Sushiswap v2 (238M). The Block Research recently published a 150-page report on the “2022 Digital Asset Outlook”. The research includes both decentralized and centralized exchange volumes.
For example, Larry Cermak is the vice president of research for theblockcrypto.com. He explained in a December 16 tweet that the Block’s legitimate volume index, spot volume, will exceed $14.5 trillion in 2021, which is 8x more than the volume last year. The study’s statistics and a report by Yogita Khtri also show that the dex trade volume was reported at over $1 trillion in 2021.
The 2022 Digital Asset Outlook report states that the monthly dex volume reached $162.8 billion in May 2021. January saw the largest month-over-month increase with a 137.3% increase. “However, the volume is still not fully recovered from May’s crash and the ratio of dex-to centralized exchange spot volume remained below 10% throughout the year.
The report also highlights the use dex aggregators. The study shows that dex aggregators such as 1inch represent only 13.9% of total dex volumes. Researchers reveal that 1inch was the most popular dex aggregator with 64.9% market share, followed by 0x API, which is 16.8%, during the year. The 2022 study by the researcher covers many other topics such as market performance, derivatives markets and mining revenue. It also includes a summary on venture funding in 2021.