DEX Trading Volume Surges Over 9,000x, Raising New Industry Challenges

The cryptocurrency industry has undergone massive expansion since 2019, with decentralized exchange (DEX) trading volume soaring approximately 9,260 times to reach a record $4.7 trillion in 2025. While activity has moderated to $1.63 trillion year-to-date in 2026, the growth is widespread across various chains and sectors, shifting the focus toward new liquidity-related challenges.