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Cardano Sees Striking 91% Surge in DEX Volume

Sun, 05/28/2023 - 18:27
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Alex Dovbnya
Cardano, a prominent player in the blockchain arena, has witnessed a striking 91% surge in its decentralized exchange (DEX) volume over the past week
Cardano Sees Striking 91% Surge in DEX Volume
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Cardano, the popular blockchain platform, has seen a remarkable 91% surge in decentralized exchange (DEX) volume over the past week, according to data from DeFiLlama.

Cardano's DEX volume has reached $68.5 million. This surge has been driven by a significant uptick in activity on Cardano-based DEX platforms, particularly Minswap, which saw a weekly change of 99.72%.

Minswap, the leading DEX on Cardano, accounted for the majority of the platform's volume, with a 24-hour volume of $6.91 million and a seven-day volume of $60.52 million. This represents a significant 90.4% of the total DEX volume on Cardano.

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Other DEX platforms on Cardano, such as WingRiders and SundaeSwap, also contributed to the overall volume, albeit to a lesser extent.

Despite the impressive growth in DEX volume, Cardano's total value locked (TVL) stands at 91.27 million, representing just 0.69% of the total across all platforms.

Ethereum continues to dominate the DeFi landscape with a TVL of $7.8 billion, accounting for 37.6% of the total. Binance Smart Chain (BSC) and Arbitrum follow with 27.98% and 14.67% respectively.

The surge in DEX volume coincides with a 4.6% increase in the price of Cardano's native token, ADA, over the last week. This positive price action and the significant growth in DEX volume underscore the increasing interest and activity in the Cardano ecosystem. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at