The market share of decentralized exchanges (DEXs) compared to centralized exchanges (CEXs) has hit an all-time high. 

According to The Block's Data Dashboard, the monthly trade volume of DEXs relative to CEXs is already at its highest ever, at 14.22%. The previous record high occurred in May 2023 at 13.7%. 

DEX volume currently stands at $139.67 billion, though July's data remains incomplete as of publication. Uniswap brought in the most monthly trading volume at $48.52 billion, with Raydium entering second with $27.78 billion in July. 

The DeFi data tracking platform DeFiLlama found that Uniswap is the largest DEX by total value locked (TVL) at $5.585 billion. Curve Finance maintains a $2.029 billion TVL, followed by PancakeSwap’s $1.825 billion and Raydium’s $1.259 …