DEX is an option for traders who want greater control over their cryptocurrency, and it looks like decentralized exchanges have entered the new year with great fanfare.

Trading volume on popular decentralized trading platforms is on track to surpassing previous trading volumes ever, as traders benefit from rising Bitcoin and Ethereum prices.

In the span of 15 days of January, decentralized trading platforms (Uniswap, Curve Finance…) have generated more than $27 billion in transaction volume so far.

It is the second highest total since September 2020 of $29 billion.

According According to data from the “Dune Analytics” platform, which indicates that the trading volume on decentralized trading platforms is on its way to breaking a new record, as there are still 17 days left for the month of January.

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At the current rate, DEX is on track to process over $55 billion in trading volume in a single month, nearly half of the total volume on decentralized exchanges recorded in 2020.

It seems that 2021 will be a special year for decentralized trading platforms that started the new year strongly, helped by the strong start of Bitcoin, Ethereum and other cryptocurrencies.

Decentralized exchanges use smart contracts on blockchain networks such as Ethereum to allow users to switch between cryptocurrencies without the need to transfer cryptocurrencies to the exchange’s wallet or verify identity.

Decentralized exchanges, also known as DEXs, have proliferated throughout 2020, processing nearly $120 billion in transactions compared to just $3 billion in 2019.

In other words, the growth and rise is evident from 2019 to the present day.

Decentralized trading platforms stagnated at the end of 2020 with trading volumes declining in October and November 2020.

For decentralized trading platforms to return to the front after the rise in Bitcoin prices and dragged the entire crypto market, which reached a total market value of more than 1 trillion dollars.

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Held and locked loans in lending services such as MakerDAO, Compound and Aave have increased by more than $175 million since the beginning of 2021.

Mr. Stani Kulichov, founder of the Decentralized Lending Protocol to source By saying:

Deposits and decentralized trading platform volumes have grown in 2021.

DeFi has become the epicenter of cryptocurrency, and trading volumes are beginning to reflect this narrative.

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The decentralized trading platform “Uniswap” is the most popular platform, since March 2020.

Currently Uniswap is responsible for more than 45% of the decentralized trading volume.

Sushiswap is one of the promising platforms in the decentralized finance market as well, as its market share has grown exponentially.

Sushiswap accounted for less than 2% of the total DEX volume at the end of October 2020.

But “Sushiswap” is currently the second largest DEX in terms of trading volume, accounting for more than 22% of the trading volume in the past week.

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