February DEX volumes hit new high of nearly $73 billion

DEX • March 1, 2021, 5:00PM EST
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Decentralized exchanges (DEXs) ended the month of February with the highest monthly volume on record, according to data gathered by The Block. 

February's monthly volume hit a new high of approximately $72.89 billion, increasing by $12 billion from January. 

Uniswap continued to lead in the DEX space, making up most of the monthly volume with $36.6 billion. This is the exchange's third consecutive month posting a monthly volume of above $30 billion. SushiSwap and Curve came in second, hitting $14.93 billion and $4.42 billion respectively.

February also had the highest-ever level of monthly revenue for Ethereum miners, roughly half of which has come in the form of transaction fees. The revenue numbers reflect the price of ETH, which exceeded the $2000 mark briefly this month. 

AUTHOR

Saniya More profile picture Saniya More

Saniya More (pronounced: Saan-ya Mo-ray) is a quadrilingual journalist at The Block. She got her master’s degree from the Columbia University Graduate School of Journalism and did her undergraduate degree at the S.I. Newhouse School of Public Communications, Syracuse University. Her work has appeared in CBS News, Bangkok Post, Thai Enquirer, Globalists, Byline Times and other publications. When she’s not chasing a story, you will most likely find her biking, tweeting, taking photos or creating Spotify playlists for every occasion.

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