DefiLlama: DEX trading volume reached a historic high of 462 billion US dollars in December

According to DefiLlama, decentralized exchanges (DEXs) hit a historic high in December with monthly trading volumes soaring to $462 billion. Uniswap remains the DEX with the highest volume, achieving $106.41 billion in trades over the past 30 days. PancakeSwap ranks second with a monthly volume of $96.42 billion. Raydium, the largest DEX in the Solana ecosystem, is third with $58 billion in trading volume for the last 30 days. Aerodrome and Orca occupy the fourth and fifth positions, with volumes of $31 billion and $22 billion respectively. Lifinity, Curve Finance, and Hyperliquid collectively recorded a total trading volume of $43.6 billion.

While DeFi trading volumes have climbed, the meme coin market experienced a significant pullback in December. Data from CoinMarketCap shows that the overall market cap of meme coins spiked in early December but then faced a sharp decline. On December 9, the market cap of meme coins peaked at $137 billion. However, by December 23, the total market value of meme coins had dropped by $45 billion to $92 billion. As of writing this report, the total market value of meme coins stands at $95 billion, which is 20% lower than on December 1.