In December 2024, decentralized exchanges (DEXs) achieved a record trading volume of $462 billion, breaking prior monthly records, according to DefiLlama data. This impressive figure shows substantial growth from November's $374 billion trading volume, fueled by optimism surrounding regulatory developments in the U.S. Uniswap retained its position as the largest DEX, with $106.41 billion in volume over the past month, followed closely by PancakeSwap at $96.42 billion. Raydium, Solana's leading DEX, recorded $58 billion, while Aerodrome and Orca had volumes of $31 billion and $22 billion, respectively. The increased activity in DEXs came amidst a downturn in the memecoin market, which saw a significant drop in market capitalization from a peak earlier in the month. Overall, despite the challenges in particular segments, the DEX market exhibited a robust performance in December 2024.

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