Cardano DEX Volume Surges 112% Amid Rising On-Chain Activity
Cardano's decentralized exchange (DEX) activity has seen significant growth over the past week. According to data from DeFiLlama, the network's DEX volume reached $37.14 million between September 25 and October 2, representing a 112% increase during this period.
The highest daily trading activity on Cardano occurred on October 1, with a volume of $11.74 million. The following day saw another significant trading activity, with $7.08 million in DEX volume. SundaeSwap was the leading decentralized exchange on the network, accounting for most of the DEX trading activity during this period.
The increase in DEX activity coincides with stronger on-chain activity across the Cardano network. Data from Chainspect shows that Cardano processed 222,000 transactions over the past seven days, representing a 5.7% increase from the previous period. The stablecoin market has also expanded, with the network's stablecoin market cap rising by more than 24% to $67.03 million.