Ethereum-powered centralized exchange (DEX) dumping continues to show encouraging performance despite rising transaction costs.
For the current record so far since early 2021, the total amount DEXes achieved in January reached $ 63 billion and in February $ 59 billion, approaching $ 67 billion by the end of the month.
This record is the highest record for the first two months of 2021 compared to previous years.
The DEX sector operating on the Ethereum network is dominated by Uniswap and SushiSwap with a trading volume for both exchanges at 65% for February. For Uniswap alone, the number recorded is twice as high as Sushiswap. This means Uniswap controls almost 50% of the DEX market.
However, based on the number of weekly active investors at Uniswap tops more than three quarters of DEX Ethereum users. Since last week, a total of 142,000 unique wallets have been traded on Uniswap, followed by 1inch around 18,450 investors, and SushiSwap with 8,911.
At the same time, not all DEX trading activity took place on Ethereum with PancakeSwap on Binance Chain seeing a daily trading surge of more than $ 1.1 billion.
Although most users are starting to switch from DEX on Ethereum, the total value locked in this exchange is still above $ 40 billion for the first time, indicating that users still have confidence in the ecosystem.
