The recent report issued by Phoenix Group sheds light on the leading decentralized exchange (DEX) platforms and their web traffic trends in the past month. Uniswap emerged as the top DEX with the highest number of web visits, totaling 2.8 million. Despite experiencing a 24.8% decrease in traffic from the previous month, Uniswap maintained its position as the most visited DEX. The average number of pages viewed per session was 4.45, with significant traffic coming from the United States, India, and Brazil, highlighting its global popularity.
PancakeSwap, operating on the Binance Smart Chain, secured the second spot with 1.2 million visits, showcasing a 16.7% drop in traffic. Interestingly, PancakeSwap stood out with an average of 5.81 pages viewed per visit, indicating strong user engagement on the platform.
Sushi, another prominent DEX player, recorded 869,000 visits, experiencing a 21.1% decline in traffic. The platform displayed an engaging user experience with an average of 5.21 pages viewed per visit.
In contrast, Raydium, operating on the Solana network, faced the steepest decline in traffic, plummeting by 35.0% to 864,000 visits. Despite the drop, the platform maintained an average of 4.52 pages viewed per visit.
1inch exchange witnessed notable growth, reporting a 69.9% increase in monthly visits, reaching 598,000. Users engaged with the platform by viewing an average of 6.04 pages per visit.
Other DEX platforms like Osmosis, LFJ, QuickSwap, and Balancer also displayed varying levels of traffic and engagement. Osmosis, connected to the Cosmos ecosystem, saw 223,000 visits with a 25.3% decline in traffic. LFJ experienced a significant drop of 45.7%, attracting 210,000 visits. QuickSwap saw an increase of 25.7% in visits, reaching 198,000. Balancer received 88,100 unique visits, marking a decline of 23.9% from the previous month.
Overall, the report underscores the volatility in global interest and usage of DEX platforms, with Uniswap maintaining its dominant position despite fluctuations in activity. These findings highlight the growing role of DEXs in the crypto market, underscoring the evolving nature of user interactions within the space.
