Cardano DEX Volume Jumps 112% Amid Growing On-Chain Activity

The Cardano decentralized exchange (DEX) has seen a significant surge in trading volume, with a 112% increase over the past seven days, according to data from DeFiLlama.

The DEX volume reached $37.14 million, with the strongest daily activity on October 1, when it climbed to $11.74 million.

The top decentralized exchange, SundaeSwap, accounted for most of the DEX trading activity, processing $23.51 million in spot volume.

The increase in DEX activity coincides with stronger on-chain activity across the Cardano network, with a 5.7% increase in transactions over the past seven days.

The network's stablecoin market has also expanded, with a 24% increase in market cap to $67.03 million.