Uniswap, the leading decentralized exchange, or DEX, keeps leading the sector as it is close to an average of $1 billion a day trading volume for the month of January. 

As the month has merely gone its two thirds, the platform has already outpaced the previous monthly trade volume record of $15.3 billion made in September during the DeFi boom. The DEX hit $17 billion up to this morning and is on track to surpass $25 billion by the end of January with a daily average of $855 million. 

Uniswap traders choose 1,558 coins traded in over 2,400 pairs, but most tend to favor less risky trades. Trading between stablecoins, like USDC, Tether, and DAI, against ETH, accounted for 45% of the $1.1 billion traded over the past 24 hours. 

December 15 saw Uniswap founder Hayden Adams shared on Twitter that the platform had passed $50 billion in all-time trade volume and asked the community when it would hit $1 trillion. Around 50% of respondents tipped this would happen in 2021. 

As of now, staying at about $70 billion in all-time trade volume, the DEX would need to average around $2.7 billion per day so as to hit $1 trillion by the end of the year. 

Matteo Leibowitz, Uniswap strategy Lead, is already claiming $1 billion trading volume is here to say: 

"$1bn volume/day is the new normal."

Adams made a comparison of this to the New York Stock Exchange, noting "2% of [NYSE] is the new normal for Uniswap. When 100%?"

"Uniswap is a legitimate business with $1 billion in daily volume, generating $30 million in daily revenue. All with next to $0 in operating costs, created with nothing but lines of code. Employees of Uniswap are its liquidity providers This is unprecedented in society."

— adambrush.eth (@brush_10) January 19, 2021

Generally, DEXs have made a strong performance over the past 30 days, surging by 112%. The total volume traded in the last 30 days is $43.3 billion with around $1.5 billion added each day. 

SushiSwap is the second strongest DEX with $8.2 billion traded since January, already double its previous monthly high of $3 billion, made in December last year.