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Nearly nine-tenths of DEX liquidity funnels through two venues. Our deep-dive weighs benefits and risks of this concentration.
PancakeSwap extends lead as monthly DEX volume tops $500B PancakeSwap extends lead as monthly DEX volume tops $500B
PancakeSwap commanded more than three-fifths of seven-day volume, leaving Uniswap a distant second.
4 min read
Updated: Jun. 19, 2025 at 2:38 pm UTC
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Nearly nine-tenths of DEX liquidity funnels through two venues. Our deep-dive weighs benefits and risks of this concentration.
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Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Polygon
$0.21816
Polygon, a prominent layer 2 scaling solution on Ethereum, has emerged as a multifaceted and scalable platform, enhancing the Ethereum ecosystem’s capabilities.
PancakeSwap
$2.27008
PancakeSwap is a decentralized exchange for swapping BEP20 tokens on Binance Smart Chain.
Curve DAO Token
$0.50874
Curve DAO (Decentralized Autonomous Organization) is a decentralized platform built on the Ethereum blockchain that aims to provide a stable and efficient market for trading stablecoins.