Decentralized Exchange Rankings Reveal Uniswap's Trading Dominance, While Phoenix Data Shows Emerging Competitors

According to analytics data compiled by Phoenix, a leading crypto data platform, the decentralized exchange landscape remains heavily concentrated among established players, with Uniswap and PancakeSwap commanding substantial portions of trading activity over the past 30 days.

Market Leaders: Uniswap and PancakeSwap Maintain Trading Supremacy

Uniswap occupies the top position with commanding metrics across all categories. The platform demonstrated $79.97B in total trading volume over the last 30 days while maintaining $3.92B in total value locked (TVL). Its 7-day volume reached $13.14B, supported by a user base of 5.50M active participants. The exchange’s extensive liquidity pool consists of 6,985 coins and 16,878 trading pairs, positioning it as the most diversified DEX option.

PancakeSwap trails closely behind as the second-largest platform by trading volume, capturing $70.56B in 30-day volume with 6.60M active users engaged during the period. The platform maintains $2.52B in TVL with 3,454 available coins and 7,167 trading pairs. Its weekly volume reached $11.51B, demonstrating consistent user activity and strong market confidence.

Mid-Tier Performers: Meteora, Aerodrome, and Radium Secure Solid Positions

Meteora rounds out the top three with impressive performance metrics. The platform processed $19.05B over 30 days with 2.80M active users, while maintaining $665.06M in TVL. Its 7-day volume of $2.53B and expanded pair offerings of 40,162 positions demonstrate significant market depth.

Aerodrome claimed the fourth position with $16.91B in monthly trading volume, attracting 625K active users. Despite operating with a more limited selection of 581 coins and 820 pairs, the platform maintains $426.26M in TVL and sustained $8.82B in weekly trading activity.

Radium follows with notable user engagement of 3.90M active traders, $1.40B in TVL, and a robust coin/pair offering of 3,326/6,319. The platform generated $15.80B in 30-day volume with $3.56B weekly activity, demonstrating strong user retention and trading momentum.

Specialized Exchanges: Orca, Curve Display Distinct Trading Patterns

Orca distinguishes itself with $14.33B in monthly trading volume while maintaining lower but stable TVL of $337.24M. The platform engaged 582.20K active users with 482 coins and 2,398 trading pairs, suggesting a more focused user experience. Its $2.51B in weekly volume indicates consistent trading interest.

Curve maintains its position through different mechanics, holding $2.07B in TVL with 255/547 coin/pair offerings. The platform’s 30-day volume reached $13.91B with 56.70K active users and $2.40B in weekly trading activity. This structure suggests Curve’s model attracts a more specialized subset of traders focused on stablecoin swaps.

Lower-Ranked Platforms: Hyperliquid, PumpSwap, and Aster Show Contrasting Strategies

Hyperliquid ranks in the lower tier despite maintaining $4.30B in TVL—notably the highest among this group. The distinguishing characteristic is its extremely selective pair offering of only 54/64, the most restricted in the entire list. This focused approach attracted 297.90K active users with $8.07B in 30-day volume and $1.56B weekly activity, suggesting a specialized user base prioritizes concentrated liquidity.

PumpSwap positioned itself in the second-lowest rank with $6.78B in 30-day volume generated by 1.40M active users—a remarkable user count relative to its trading volume. The platform maintains $202.19M in TVL with 910 coins and 8,743 trading pairs, offering broader accessibility. Its $1.40B weekly volume indicates steady but lower per-user trading intensity.

Aster concludes the ranked list with $3.58B in monthly trading volume, $1.39B in TVL, and minimal active user base of 3K participants. The platform’s 119/130 coin/pair selection and $293.02M in weekly volume suggest it operates as a niche venue or remains in earlier growth phases compared to established competitors.

According to Phoenix’s analysis framework, these metrics reveal how trading volume, user engagement, and platform specialization create distinct market segments within the DEX ecosystem. The data underscores that while total volume remains concentrated among Uniswap and PancakeSwap, emerging platforms continue capturing user growth through specialized features or broader token offerings.