Non-custodial Dex platforms continue to expand — Curve, Pancakeswap, Sushiswap, Uniswap Lead the pack – Defi

Five years ago, there was a large amount of digital currencies and blockchains, but very few trading platforms engaged in decentralized exchanges. Since the boom in decentralized finance (defi), there are now a variety of decentralized exchange (dex) platforms that allow people to exchange funds in a private, non-custodial manner. Today, the largest Dex applications serve a variety of blockchain networks via cross-chain technology.

Curve's TVL approaches $20 billion, Curve DAO Token rises 82%, Pancakeswap and Sushiswap follow with TVLs over $10 billion

Defi has grown in popularity over the last 12 months and there are numerous applications and platforms that cater to the needs of traders and liquidity providers. There is currently a total value of $245.1 billion locked in Defi platforms across blockchains such as Ethereum, Solana, Avalanche, Polygon, Binance Smart Chain, and more.

Data from defillama.com shows that the Aave lending system has the largest dominance metric today with 7.95% of the $245 billion or $19.46 billion TVL. Aave is compatible with Ethereum, Polygon and Avalanche and the TVL has increased by 18.13% in the last seven days.

In terms of dex TVL ranking, Curve is the biggest competitor with $18.21 billion and compatibility with seven different blockchains. The Binance Smart Chain (BSC) Dex application Pancakeswap has the second largest TVL with $5.77 billion across just one chain.

The Curve dex cryptocurrency, also known as Curve DAO Token (CRV), is up 82.4% in the last week. Cake, the native currency of the Pancakeswap dex, is up just 0.7% over the past week. Sushiswap is just under the BSC dex with a total value of $5.6 billion spread across 13 unique blockchains. Sushiswap’s native asset, SUSHI, is up 3.0% over the past seven days.

Uniswap, which uses the Ethereum blockchain, has a TVL of around $5.26 billion, up 8% in the last week. UNI has gained 4.7% in the past week and Uniswap version 3 is the sixth largest index in terms of total value held.

Uniswap Weekly Volume Nearly $10 Billion, Dex Aggregators Capture 26% of Trades, Non-Ethereum Dex Platform TVLs Rise

Between Uniswap, Sushiswap, Curve and 0x Native, the Dex application Uniswap has the largest trading volume with $9.3 billion in the last seven days. Uniswap captures 68.2% of volume across 14 different Ethereum-based Dex platforms.

Meanwhile, Sushiswap achieved $2.2 billion in volume this week and Curve achieved $667 million in volume. Dex aggregator platforms like 1inch and 0x API have around 26% of trading volume. 1inch recorded $2.1 billion in weekly trading and 0x API recorded $1.2 billion.

Regarding TVL, top dex applications from other blockchains besides BSC and ETH include Avalanche's Trader Joe, Solana's Saber, Raydium and Serum, as well as Tron's Justswap (JST) application. Avalanche (AVAX)-based trader Joe Dex increased his TVL by 33.11% this week and Solana (SOL)-based Serum's TVL increased by 20.74%.

What do you think about the Dex volumes and total value locked in these Defi applications? Let us know your thoughts on this topic in the comments below.

Photo credits: Shutterstock, Pixabay, Wiki Commons, defillama.com, Dune Analytics,