Uniswap Raydium has taken the lead in decentralized exchange (DEX) web traffic over the past month, with 4.0 million visits, according to data from Phoenix, a crypto media outlet. This marks a significant increase in user engagement for the platform.
#WEB TRAFFIC TO DEXES FOR THE LAST MONTH
#Uniswap #Raydium #PancakeSwap #Sushi #1inch #Osmosis #LFJ #Quickswap #Balancer pic.twitter.com/KKHrMaI0uP— PHOENIX – Crypto News & Analytics (@pnxgrp) November 15, 2024
PancakeSwap Secures 2nd Place with 1.3M Monthly Visits
PancakeSwap comes second in terms of traffic with 1.3 million visits in the last month. Currently, it the most popular DEX on the Binance Smart Chain (BSC). PancakeSwap has boasted the fast transactions rates and the lower fees than Ethereum based platforms.
Another large DEX, SushiSwap, said that it received 707,000 visits during the same time. SushiSwap is famous for decentralization and has many products, such as yield farming and staking, which retain the audience.
Other DEXs on the list include 1inch with 494K visits. Popular for its aggregator, 1inch offers its customers the best price by getting the price from various DEXs. Osmosis, an essential player in the Cosmos ecosystem, registered 249k visits, demonstrating the platform’s increasing importance as a DEX designed on the Cosmos network. It is much easier to perform cross-chain transactions using osmotic, which is one of the crucial components of the cosmos ecosystem.
DeFi Growth Fuels Record Traffic for Leading DEXs
Other active DEXs are LFJ which recorded 178,000 visits and Quickswap that received 162,000 visits. The Polygon based Quickswap is rapidly growing in popularity because of its low cost and high speed. Another DEX that enables users to create their own liquidity pools, Balancer, came in the fifth place with 123,000 visits.
In conclusion, Uniswap Raydium has gained the highest web traffic of all DEXs in the last month with PancakeSwap and SushiSwap not far behind, as per Phoenix data. The upsurge in the use of these platforms cannot be explained other than by the fact that the world is gradually transitioning to decentralized finance (DeFi).