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DEX Volume Surges to Record Highs in January Despite Crypto Sell-Off


DEX Volume Surges to Record Highs in January Despite Crypto Sell-Off

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DEX trading activity has surged, exceeding January 2022 highs, with $278 billion traded in January, the busiest in five years. Daily volume on Base reached $3.39 billion, up from $2.5 billion, indicating strong DeFi adoption despite a broader market decline.

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  • DEX activity on multiple networks has already surpassed high levels seen in January 2022.
  • Trading topped $278 billion, making this the busiest January in at least five years.
  • Daily volume on Base jumped to $3.39 billion, above its usual daily level of $2.5 billion.

Despite the overall market decline in early 2026, trading activity on decentralized exchanges (DEXs) has set a new record this month. Dune data from mid-January show that DEX activity on multiple networks has already surpassed levels seen in January 2022, which was a big boom time for DeFi.

Trading on decentralized exchanges topped $278 billion in January, making it the busiest January in at least five years on major blockchains like Ethereum, Solana, BNB Chain, and Base.

Even as overall trading on notable centralized exchanges fell off at the end of 2025, trading directly on blockchains went against …

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In This News

Coins

$ 1.88K

-4.70%

$ 641.92

-5.09%

$ 75.18

-5.10%

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In This News

Coins

$ 1.88K

-4.70%

$ 641.92

-5.09%

$ 75.18

-5.10%

Predictions Markets

See what traders are focused on

View analytics →
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