Uniswap Leads DEX Market with 35.9% Share in August 2025
Iris Coleman Sep 04, 2025 08:00
Uniswap regains dominance with a 35.9% market share, while PancakeSwap and Aerodrome follow. Hyperliquid emerges as a significant contender in the decentralized exchange space.
Uniswap has reclaimed its position as the largest decentralized exchange (DEX) by market share in August 2025, according to CoinGecko. The platform captured a 35.9% share of the trading volume, with a substantial $111.8 billion traded throughout the month. This marks a 28.3% increase from its July 2025 volume of $87.2 billion, underscoring Uniswap's resurgent growth in the DEX market.
Uniswap's Market Dominance
Uniswap's performance in August 2025 represents the second time this year that the exchange has surpassed a $100 billion trading volume. Despite experiencing a dip in market share to 19.4% in June, Uniswap has bounced back to the forefront, overtaking PancakeSwap, which had previously dominated the market.
PancakeSwap's Decline
PancakeSwap, now the second-largest DEX, recorded a 29.5% market share with $92.0 billion in trading volume in August 2025. This figure reflects a significant 44.7% decrease from July, when PancakeSwap achieved $166.2 billion in volume. The exchange had initially gained prominence due to the Binance Alpha 2.0 launch, which incentivized trading activity.
Aerodrome and Emerging Competitors
Following Uniswap and PancakeSwap, Aerodrome emerged as the third-largest DEX, holding a 7.4% market share with $22.9 billion in trading volume. This Base-based platform grew by 28.0% month-on-month, highlighting its steady rise in the DEX landscape.
Meanwhile, Hyperliquid has made notable strides, becoming the fourth-largest DEX with a 6.9% market share and $21.4 billion in trading volume. The platform experienced a remarkable 129.3% increase from July, surpassing several Solana-based exchanges to secure its position in the top four.
DEX Market Overview
The top 10 decentralized exchanges accounted for a significant portion of the market in August 2025. Uniswap, PancakeSwap, Aerodrome, and Hyperliquid lead the rankings, followed by Orca, Raydium, Meteora, Curve, Sunswap, and Maverick. Collectively, these exchanges dominate the DEX trading volume, with Uniswap maintaining a clear lead.
The study conducted by CoinGecko analyzed trading volumes from January to August 2025 to determine the market shares of these exchanges. For additional insights and detailed analysis, you can visit the original article on CoinGecko.
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