Monthly trading volume on decentralized exchanges (DEXs) has hit an all-time high, according to the latest on-chain data.
DEX trading volume in December hit a record high of $422 billion, according to blockchain data aggregator DefiLlama.
The month of November also hit an all-time high, according to DefiLlama.
Uniswap, the largest DEX for Ethereum (ETH), recorded the highest trading volume, and Radium (RAY), the largest DEX for Solana, took second place.
Most other chains have seen increased transaction volumes and DeFI as a sector is growing. Perhaps it has received a boost from President-elect Donald Trump, who has ostensibly given his stamp of approval to the sector by launching his own platform, World Liberty Financial (WLFI). .
According to the president-elect’s project, its main mission is to spread the concept of stablecoins and DeFi around the world pegged to the US dollar.
According to World Liberty Financial, stablecoins are at the heart of DeFi, and the goal is to ensure that crypto assets pegged to the U.S. dollar will remain the global payment layer for DeFi protocols for the foreseeable future.
“By spreading U.S.-pegged stablecoins around the world, we ensure the continued dominance of the U.S. dollar and secure America’s financial leadership and influence on the world stage.”
World Liberty Financial is working closely with cybersecurity experts and DeFi lending platform Aave (AAVE) to achieve its vision.
According to blockchain “de-anonymization” service Arkham, the World Liberty Financial project held more than $50 million in cryptocurrency assets as of last month.
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