Monthly trading volume on decentralized exchanges (DEXs) has reached new all-time highs, according to the latest on-chain data.
According to blockchain data aggregator DefiLlama, DEX volume for December was $422 billion, the highest on record.
The month of November was also an all-time high, according to DefiLlama.
Uniswap, the largest DEX on Ethereum (ETH), saw the highest volume while Raydium (RAY), the largest DEX on Solana, ranked second.
Most other chains have seen an increase in volume, and DeFI as an industry is growing, perhaps thanks to President-elect Donald Trump seemingly giving his stamp of approval to the industry by launching his own platform – World Liberty Financial (WLFI) .
The new president’s plan indicates that his main mission is to spread US dollar-pegged stablecoins and the concept of DeFi throughout the world.
According to World Liberty Financial, stablecoins are at the heart of DeFi, and their goal is to ensure that US dollar-pegged crypto assets remain the global settlement layer for DeFi protocols for the foreseeable future.
“By distributing U.S.-linked stablecoins around the world, we ensure that the dominance of the U.S. dollar continues, securing America’s financial leadership and influence on the global stage.”
World Liberty Financial is working closely with cybersecurity experts and DeFi lending platform Aave (AAVE) to realize its vision.
According to blockchain “deanonymization” service Arkham, the World Liberty Financial project held more than $50 million in crypto assets as of last month.
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