DEX
1.25%
−0.00%24h Change
7d Change
| 7d Chart | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
9 HYPE 9Hyperliquid | $70.35 | −0.60% | 6.84% | 17.37% | $17.78 B | $67.07 B | $264.07 M | |||
34 UNI 34Uniswap | $3.13 | 0.84% | 8.88% | 22.72% | $1.95 B | $2.80 B | $68.28 M | |||
37 ASTER 37Aster | $0.635 | 0.13% | 2.18% | −0.81% | $1.72 B | $4.97 B | $51.27 M | |||
65 JUP 65Jupiter | $0.235 | −3.43% | 12.46% | 50.28% | $781.60 M | $1.62 B | $17.51 M | |||
73 LIT 73Lighter | $2.59 | −0.65% | 37.83% | 79.34% | $652.50 M | $2.61 B | $92.68 M | |||
74 PUMP 74Pump.fun | $0.001604 | −1.96% | 9.71% | 8.23% | $647.33 M | $1.37 B | $51.80 M | |||
85 CAKE 85PancakeSwap | $1.42 | −0.51% | 8.33% | 15.13% | $462.18 M | $479.82 M | $34.03 M | |||
107 CRV 107Curve DAO | $0.2086 | −1.07% | 9.57% | 9.43% | $317.37 M | $499.83 M | $22.76 M | |||
113 GNO 113Gnosis | $105.31 | 0.83% | −2.63% | 14.56% | $277.97 M | $315.92 M | $1.21 M | |||
121 PENDLE 121Pendle | $1.40 | 1.23% | 4.39% | 12.17% | $240.59 M | $395.83 M | $17.68 M | |||
138 RAY 138Raydium | $0.7328 | 1.72% | 18.21% | 27.24% | $197.35 M | $406.70 M | $11.73 M | |||
170 FF 170Falcon Finance | $0.05936 | −1.64% | −13.29% | −36.55% | $139.02 M | $594.10 M | $10.26 M | |||
176 RUNE 176THORChain | $0.404 | −1.71% | 5.14% | 17.05% | $136.57 M | $142.98 M | $22.26 M | |||
182 SNX 182Synthetix | $0.2213 | −2.00% | 6.17% | −7.96% | $128.57 M | $128.66 M | $10.86 M | |||
183 GENIUS 183Genius | $0.3779 | −0.89% | −6.12% | −12.80% | $126.87 M | $360.89 M | $11.69 M | |||
193 FT 193Flying Tulip | $0.09655 | 0.39% | −1.42% | −1.16% | $116.70 M | $965.50 M | $256,316.00 | |||
194 EDGE 194edgeX | $0.3269 | 28.88% | 10.06% | −34.69% | $114.63 M | $327.50 M | $10.94 M | |||
202 DYDX 202dYdX | $0.1286 | −0.52% | −18.38% | −5.55% | $109.00 M | $123.15 M | $10.66 M | |||
214 1INCH 2141INCH | $0.0716 | 0.58% | 5.56% | 3.17% | $101.22 M | $107.54 M | $10.40 M | |||
231 MET 231Meteora | $0.1681 | −0.99% | −8.55% | 64.87% | $90.00 M | $167.52 M | $9.39 M | |||
232 O 232o1.exchange | $0.5569 | 0.23% | 2.24% | −15.82% | $89.58 M | $559.90 M | $3.03 M | |||
241 COW 241CoW Protocol | $0.1436 | −0.73% | −0.82% | 5.85% | $83.20 M | $143.70 M | $3.26 M | |||
249 MAGMA 249Magma Finance | $0.4209 | −12.99% | −6.91% | −5.74% | $80.18 M | $422.00 M | $1.87 M | |||
254 FLUID 254Fluid | $0.9943 | −2.63% | 14.56% | −8.96% | $78.20 M | $99.37 M | $2.88 M | |||
267 ORCA 267Orca | $1.23 | −0.81% | 2.50% | 20.47% | $74.78 M | $92.25 M | $11.56 M | |||
269 ZRX 2690x Protocol | $0.0874 | −0.61% | 11.24% | 4.66% | $74.02 M | $87.25 M | $8.19 M | |||
290 DRV 290Derive | $0.1113 | 0.29% | 11.03% | 20.73% | $64.65 M | $111.30 M | $1.39 M | |||
296 CYDX 296CyberDEX | $0.1821 | 0.03% | 0.17% | 35196.80% | $63.26 M | $291.36 M | $3,574.07 | |||
373 SUSHI 373SushiSwap | $0.1615 | 2.10% | 8.11% | −4.83% | $46.38 M | $47.14 M | $7.34 M | |||
391 VVS 391VVS Finance | $0.00000101 | −3.81% | 7.07% | −2.88% | $43.99 M | $96.06 M | $57,923.00 | |||
502 RTX 502RateX | $1.06 | 2.63% | 0.01% | 44.54% | $17.69 M | $106.20 M | $260,850.78 | |||
513 EROWAN 513Sifchain | $0.0₅92 | −20.82% | −20.82% | 22.98% | $27,889.17 | $27,932.08 | $1.06 | |||
534 AVNT 534Avantis | $0.0955 | 4.82% | 5.77% | −7.10% | $31.48 M | $95.65 M | $5.07 M | |||
539 MNGO 539Mango | $0.02779 | −0.08% | −2.56% | −1.88% | $31.05 M | $31.05 M | $8,371.70 | |||
556 BNT 556Bancor Network | $0.2709 | 0.94% | 8.90% | 1.63% | $29.21 M | $29.21 M | $512,455.65 | |||
559 MMT 559Momentum | $0.1418 | 0.02% | −12.51% | 33.01% | $28.90 M | $141.60 M | $2.81 M | |||
561 OSMO 561Osmosis | $0.0368 | 0.95% | 3.09% | −8.16% | $28.74 M | $35.97 M | $3.03 M | |||
601 ARKM 601Arkham | $0.1147 | −0.02% | 2.16% | −0.56% | $25.91 M | $115.10 M | $6.49 M | |||
617 LINA 617Linear | $0.002503 | 23348.40% | 24272.89% | 0.21% | $25.02 M | $25.03 M | $711.96 | |||
618 FLIP 618Chainflip | $0.2809 | 0.47% | −2.09% | −14.74% | $24.98 M | $25.21 M | $98,325.23 | |||
652 FRAX 652Frax (prev. FXS) | $0.2416 | 1.14% | 2.74% | −16.51% | $22.62 M | $24.08 M | $339,154.31 | |||
661 LON 661Tokenlon | $0.1787 | 2.01% | 3.48% | −4.68% | $22.06 M | $25.10 M | $6,794.32 | |||
673 BASED 673Based | $0.09127 | −3.30% | 10.75% | 35.14% | $21.55 M | $91.72 M | $7.12 M | |||
674 VELO 674Velodrome Finance | $0.02353 | 1.51% | 28.38% | 87.15% | $21.53 M | $59.48 M | $3.24 M | |||
676 STON 676STON | $0.5749 | 2.05% | 5.11% | 9.52% | $21.53 M | $57.49 M | $26,269.00 | |||
712 CHEX 712Chintai | $0.01614 | −2.34% | 22.37% | 19.24% | $19.93 M | $19.93 M | $203,734.67 | |||
737 KNC 737Kyber Network Crystal | $0.1108 | 0.67% | 2.59% | −7.22% | $18.89 M | $26.75 M | $2.91 M | |||
738 CLO 738Yei Finance | $0.1468 | 4.49% | 0.37% | −37.94% | $18.87 M | $146.20 M | $3.58 M | |||
765 CETUS 765Cetus Protocol | $0.01867 | 3.00% | 6.84% | −0.06% | $17.72 M | $18.70 M | $3.74 M | |||
775 FUL 775Fulcrom | $0.001039 | −0.36% | 24.13% | 15.04% | $17.36 M | $20.78 M | $3,244.83 | |||
778 AEVO 778Aevo | $0.01878 | −1.15% | 1.12% | −4.02% | $17.24 M | $18.80 M | $4.22 M | |||
784 LRC 784Loopring | $0.01247 | 1.74% | 2.52% | −6.23% | $17.05 M | $17.12 M | $2.01 M | |||
796 DODO 796DODO | $0.0167 | −0.74% | −11.22% | 12.28% | $16.69 M | $16.69 M | $919,660.66 | |||
826 INX 826Infinex | $0.007757 | 2.36% | −4.99% | 11.07% | $15.48 M | $77.63 M | $365,998.61 | |||
828 MYX 828MYX Finance | $0.08081 | −2.99% | −18.91% | −63.86% | $15.46 M | $81.04 M | $11.35 M | |||
839 F 839SynFutures | $0.00338 | −1.45% | 2.15% | −12.46% | $15.12 M | $33.72 M | $2.01 M | |||
856 GNS 856Gains Network | $0.6219 | −1.07% | 19.39% | 34.38% | $14.57 M | $14.57 M | $910,433.14 | |||
871 WET 871HumidiFi | $0.06146 | −0.68% | −1.60% | 9.65% | $14.13 M | $61.43 M | $4.45 M | |||
885 AQUA 885Aquarius | $0.0003803 | −2.18% | 4.99% | −7.08% | $13.66 M | $38.02 M | $267,375.00 | |||
888 JOE 888JOE | $0.0295 | 0.51% | 4.32% | −3.99% | $13.49 M | $13.70 M | $4.86 M | |||
956 H2O 956H2O | $5.32 | 0.76% | 6.83% | −1.30% | $11.78 M | $11.78 M | $542,169.00 | |||
975 DOLO 975Dolomite | $0.02306 | −0.07% | 1.71% | 2.66% | $11.29 M | $23.02 M | $3.82 M | |||
1037 DRIFT 1037Drift Protocol | $0.01634 | 4.14% | 3.43% | −10.32% | $9.99 M | $16.34 M | $2.25 M | |||
1039 ROLL 1039RollX | $0.06424 | −3.39% | −10.12% | −22.23% | $9.97 M | $64.31 M | $110,128.86 | |||
1068 MAV 1068Maverick Protocol | $0.0096 | 0.05% | 3.66% | −10.24% | $9.43 M | $19.17 M | $602,208.96 | |||
1092 EPS 1092Ellipsis [OLD] | $0.01301 | −0.47% | 4.44% | −1.29% | $9.09 M | $9.42 M | $21.49 | |||
1108 OPAL 1108Opal | $0.1753 | 13.91% | −24.77% | 62.79% | $8.76 M | $12.27 M | $86,414.26 | |||
1113 THOR 1113THORSwap | $0.0341 | 2.88% | 16.96% | −8.62% | $8.68 M | $9.59 M | $10,366.67 | |||
1119 CET 1119CoinEx Token | $0.01211 | 1.67% | 9.49% | −27.21% | $8.58 M | $33.64 M | $40,498.00 | |||
1152 HFT 1152Hashflow | $0.0095 | 4.22% | 13.19% | −7.36% | $8.07 M | $9.49 M | $2.96 M | |||
1176 THE 1176THENA | $0.0577 | −0.73% | 10.92% | −15.72% | $7.65 M | $16.33 M | $1.98 M | |||
1200 MCB 1200MUX Protocol | $1.88 | 0.00% | 1.08% | −13.43% | $7.18 M | $9.03 M | $161.19 | |||
1237 BAL 1237Balancer | $0.09526 | 2.72% | 5.87% | −7.58% | $6.67 M | $6.92 M | $74,850.06 | |||
1244 ANY 1244Anyswap | $0.499 | −0.55% | 4.65% | −1.71% | $6.58 M | $49.90 M | $0.9967 | |||
1253 STORM 1253Storm Trade | $0.005997 | 5.76% | 5.76% | 16.50% | $6.52 M | $6.52 M | $139,051.16 | |||
1264 NEX 1264Nash | $0.1447 | −14.62% | 29.69% | 36.65% | $6.41 M | $7.24 M | $1,595.48 | |||
1269 QUICK 1269Quickswap [OLD] | $9.45 | 0.32% | 4.88% | 6.64% | $6.31 M | $8.50 M | $4,458.78 | |||
1280 MIN 1280Minswap | $0.003553 | 1.27% | 28.63% | 17.05% | $6.14 M | $8.78 M | $15,306.66 | |||
1283 SDEX 1283SmarDex | $0.000657 | −1.98% | −15.63% | −45.34% | $6.11 M | $6.24 M | $78,040.55 | |||
1298 BLUE 1298Bluefin | $0.01146 | 0.10% | 6.88% | −4.16% | $6.01 M | $11.44 M | $133,963.65 | |||
1312 HDN 1312Hydranet | $0.02865 | −0.50% | −6.88% | −26.13% | $5.86 M | $8.60 M | $83,431.00 | |||
1352 EKUBO 1352Ekubo | $0.5456 | 1.71% | 11.00% | 22.12% | $5.46 M | $5.46 M | $62,440.00 | |||
1355 RHEA 1355RHEA | $0.013648 | −1.18% | 3.35% | −4.92% | $5.42 M | $13.63 M | $298,029.67 | |||
1372 PNG 1372Pangolin | $0.0225 | −0.59% | −2.37% | 0.39% | $5.30 M | $5.18 M | $449,755.00 | |||
1388 QUICK 1388Quickswap | $0.00771 | 1.95% | 0.26% | −4.66% | $5.14 M | $6.92 M | $198,690.43 | |||
1496 PEAR 1496Pear Protocol | $0.01677 | −3.91% | −8.87% | −3.75% | $4.31 M | $14.29 M | $62,994.00 | |||
1521 MKL 1521Merkle Trade | $0.0412 | 15.48% | 32.54% | 2.68% | $4.12 M | $4.12 M | $110.14 | |||
1545 VOOI 1545VOOI | $0.011439 | 22.01% | 117.89% | 114.81% | $3.97 M | $11.51 M | $766,548.07 | |||
1578 GDOT 1578GIGADOT | $0.8667 | 0.12% | 5.90% | −10.41% | $3.73 M | $3.73 M | $47,707.00 | |||
1730 DIME 1730Paradex | $0.01311 | −10.36% | 9.18% | −22.14% | $2.90 M | $13.11 M | $2,804.42 | |||
1749 RION 1749Hyperion | $0.1672 | −0.51% | 1.97% | −4.00% | $2.85 M | $16.74 M | $92,461.71 | |||
1786 LAYER 1786UniLayer | $0.0674 | 1.35% | 3.37% | 5.15% | $2.70 M | $2.70 M | $193.64 | |||
1833 REX 1833Etherex | $0.007231 | 5.44% | 12.85% | −11.60% | $2.53 M | $7.23 M | $703.87 | |||
1836 KYO 1836Kyo | $0.01535 | 0.41% | −0.44% | −0.66% | $2.52 M | $3.08 M | $4.67 M | |||
1855 SWAP 1855HyperSwap | $0.03605 | −1.08% | 7.35% | 33.50% | $2.46 M | $3.32 M | $24,209.00 | |||
1878 EXCC 1878ExchangeCoin | $0.07777 | −2.02% | −2.08% | −7.44% | $2.40 M | $2.49 M | $29,303.00 | |||
1886 SWCH 1886SwissCheese | $0.05504 | −1.37% | −31.17% | 29.11% | $2.37 M | $6.60 M | $234,570.49 | |||
1897 ZEX 1897Zeta Markets | $0.01248 | 6.68% | −8.09% | −25.20% | $2.34 M | $12.48 M | $15,896.19 | |||
1900 DRG 1900DragonSwap | $0.0095 | 1.28% | 0.85% | −5.51% | $2.34 M | $9.50 M | $11,526.83 | |||
1993 KDK 1993Kodiak Finance | $0.1397 | 0.23% | 1.51% | −17.20% | $2.05 M | $13.90 M | $63,186.00 |
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Frequently Asked Questions
What is a DEX in crypto?
A decentralized exchange (DEX) is a peer-to-peer marketplace where traders swap crypto assets directly through smart contracts, without a custodian holding funds. DEX tokens are the governance and utility tokens of these protocols, used for fee discounts, liquidity rewards, and protocol voting. Non-custodial settlement removes the counterparty risk centralized exchanges carry. DropsTab tracks more than 360 DEX projects with a combined market cap above $20B, sortable by market cap, volume, and fully diluted valuation.
How does a decentralized exchange work?
A decentralized exchange settles trades on-chain through smart contracts using one of three models. Automated market makers (AMMs) like Uniswap and PancakeSwap price swaps from liquidity pools funded by users. Order-book DEXs match bids and asks directly — the model behind perpetual venues like Hyperliquid. Aggregators like 1inch and CoW Protocol route orders across multiple pools for better pricing. All three models keep funds in user wallets until execution, preserving self-custody.
What is the difference between a DEX and a CEX?
A DEX is non-custodial and runs entirely on smart contracts, while a centralized exchange (CEX) holds user funds and matches orders on private servers. DEX trading requires no account or identity verification; a CEX requires KYC and can freeze accounts. Centralized exchanges still handle the majority of spot volume — the DEX-to-CEX spot ratio sat near 0.18 in 2025. DEX advantages of self-custody and permissionless access come with higher technical complexity and gas costs.
Which DEX tokens lead the sector by market cap?
DropsTab ranks Hyperliquid (HYPE) as the largest DEX token by market cap, followed by Aster (ASTER) and Uniswap (UNI). Hyperliquid and Aster are perpetual-futures DEXs; Uniswap is the original spot AMM. Solana-based Jupiter (JUP) and Pump.fun (PUMP), plus PancakeSwap (CAKE) and Curve (CRV), round out the leaders. Market cap leadership shifts with price, so the live DropsTab DEX ranking reflects the current order across more than 360 tracked projects.
What is a decentralized perpetual exchange?
A decentralized perpetual exchange (perp DEX) lets traders take leveraged long or short positions on crypto with no expiry date, settled on-chain without a custodian. Perp DEXs now generate the highest trading volumes in the DEX category. Hyperliquid is the largest perp DEX by trading volume, running its own L1 blockchain with a fully on-chain order book. Concentration is a structural risk: one venue handling roughly a third of perp DEX volume means category activity depends heavily on that protocol's uptime.
Are decentralized exchanges safe?
Decentralized exchanges remove custodial risk — funds stay in user wallets, not on an exchange that can be hacked or freeze withdrawals. Smart-contract risk replaces it: a bug or exploit in protocol code can drain funds permanently. DEX exploits cost users hundreds of millions in 2025, including the Cetus hack of over $220M in May 2025. Safety depends on audited contracts and protocol maturity, not on the DEX model alone.
Do decentralized exchanges require KYC?
Most decentralized exchanges require no KYC — trading needs only a connected self-custody wallet, with no account, identity check, or regional gate. Permissionless access is a core DEX feature, but the same absence of identity verification draws growing regulatory scrutiny. Some jurisdictions are moving to extend exchange rules to decentralized front-ends. Traders keep privacy and control while accepting that no intermediary can reverse a mistaken or malicious transaction.
What gives DEX tokens their value?
DEX tokens derive value from protocol usage rather than from the trades themselves. Governance rights let holders vote on fee tiers, treasury spending, and upgrades. Fee-sharing and buyback mechanisms route protocol revenue to token holders — Hyperliquid and several peers use trading fees to buy back and remove tokens from supply. Liquidity incentives reward holders who supply capital to pools. DEX token value tracks trading volume and revenue, which DropsTab displays alongside Vesting and Fundraising data per project.