In August, DEX spot trading volume reached approximately $506.3 billion, the second-highest month on record, narrowly below January’s all-time high of $507.8 billion. When including perpetual trading, total decentralized exchange volume crossed $1.15 trillion for the first time ever. Perpetual products accounted for more than half of all activity at $648.6 billion, with Hyperliquid alone contributing around $405.8 billion. TVL climbed $21 billion to hit $83.2 billion, and Ethereum reclaimed its crown as the leading blockchain with $140 billion in spot volume.
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