The market share of decentralized exchanges (DEXs) vis-à-vis centralized exchanges (CEXs) has escalated to an unprecedented zenith.

The Block’s Data Dashboard reveals that the monthly trading volume of DEXs in relation to CEXs has attained an all-time high, presently standing at 14.22%. This surpasses the previous pinnacle of 13.7%, observed in May 2023.

Currently, the DEX trading volume is quantified at $139.67 billion, although July’s data remains incomplete at the time of this publication. Among DEXs, Uniswap commands the highest monthly trading volume, registering $48.52 billion, with Raydium trailing at $27.78 billion for July.

DeFiLlama, a DeFi data tracking platform, indicates that Uniswap is the preeminent DEX by total value locked (TVL), boasting $5.585 billion. Curve Finance holds a TVL of $2.029 billion, followed by PancakeSwap at $1.825 billion and Raydium at $1.259 billion.

According to The Block Prices, Uniswap’s native token, UNI, is trading at $7.77, reflecting a 2.31% increase in the past 24 hours.

This meteoric rise underscores the growing preference for decentralized platforms, fueled by their transparency, security, and community-driven governance, challenging the traditional dominance of centralized exchanges in the cryptocurrency ecosystem.