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| DEX |
The decentralized exchange (DEX) market showed renewed vigor in the first week of April, with emerging chains, including Bera Chain (BERA) and Mantle, recording significant surges in trading volume and impacting the market landscape. According to data from DefiLlama, the total DEX trading volume reached $51.292 billion between March 29th and April 4th.
Ethereum (ETH) and Solana (SOL) continued to dominate the top positions. Ethereum recorded a 7-day trading volume of $12.44 billion, maintaining a 26.51% share of the total DEX market, and its weekly trading volume increased by 15.52%. Its Total Value Locked (TVL) remained the highest at $7.781 billion.
Solana secured the second position with a trading volume of $11.336 billion, marking a 20.02% increase. Its TVL stood at $2.113 billion, second only to Ethereum. In contrast, Binance Smart Chain (BSC) experienced a substantial decrease of 33.56%, with its trading volume falling to $7.007 billion.
Mantle and Bera Chain Witness Explosive Trading Volume Growth
Mantle emerged as the top gainer this week, registering a remarkable 2412% surge in trading volume to $3.245 billion. Base also showed strong growth, with a 70.24% increase to $4.345 billion, a TVL of $1.399 billion, and a market share of 10.57%.
Bera Chain (BERA) garnered attention with a 44.32% increase in trading volume, reaching $843 million. Sui (SUI) also contributed to the growth trend with a 68.9% increase in trading volume to $1.944 billion. These chains demonstrated strong inflows through increased trading activity, despite having relatively lower TVLs.
On the other hand, Avalanche (AVAX) experienced a decline of 25.62% to $751 million, and Hyperliquid (HYPE) saw a decrease of 19.41% to $753 million.
DEXs Narrowing Gap with CEXs, Emerging Chains in Focus
The total DEX trading volume of approximately $513 billion represents an increase from the previous week, with DEXs maintaining a market share of around 32% compared to centralized exchanges (CEXs). Interest in decentralized trading remains robust, with emerging chains playing a significant role in driving this trend.
Market observers suggest that the influx into emerging chains is enhancing liquidity and diversity within the DEX market. They note that DEX trading volume provides valuable insights into the growth trajectory of individual chains, which may not be fully reflected in TVL metrics alone.