According to Milk Road (@MilkRoadDaily), SUI’s decentralized exchange (DEX) trading volumes hit an all-time high last week, reaching $3.649 billion. This surge in DEX activity signals a significant increase in onchain trading participation, suggesting traders are actively utilizing SUI’s onchain liquidity for swaps and trades. Elevated DEX volumes are typically seen as a bullish indicator for underlying ecosystem tokens and may reflect heightened volatility and trading opportunities for SUI and related assets. Source: Milk Road Twitter, April 29, 2025.

According to Milk Road, 90% of all onchain trading volume is concentrated in just 6 decentralized exchanges (DEXs). PancakeSwap leads on BNB Chain, Uniswap dominates Ethereum, and AerodromeFi is the top DEX on Base. On Solana, RaydiumProtocol holds 14% of the market share, with MeteoraAG and Orca each capturing 7%.