May DEX Trading Volume Reaches $474.135 Billion, Second-Highest Ever – Coincu

In May 2025, the decentralized exchange trading volume reached a remarkable $474.135 billion, nearly matching January 2025’s record.

This unprecedented surge reflects an escalating interest in decentralized exchange platforms, particularly driven by BNB Chain’s robust activity due to airdrops and trading campaigns.

BNB Chain and PancakeSwap Drive Unprecedented Trading Activity

BNB Chain secured a leading position by achieving a $178.228 billion trading volume, driven by promotional activities. PancakeSwap emerged as the largest contributor with $165.35 billion.

The increase in trading activities reflects positive market sentiment. These activities, incentivized by strategic campaigns, saw a noticeable jump in network activity. “This boom is attributed to the Alpha airdrop and competitive trading campaigns, which incentivized activity, though no official budget figures or institutional grant details have been released from primary project pages.” source

Despite these milestones, no major public figures or organizations have issued statements. However, online discussions among the community have been encouraging, focusing on potential growth. According to CoinMarketCap, BNB, with a market cap of approximately $92.49 billion, experienced a 24-hour change of 0.51% and a 9.56% increase over 30 days. Trading volume fell by 27.66% to $1.37 billion on June 1, 2025.

Market Trends and Future Insights

Did you know? The rise of decentralized exchanges has significantly altered the trading landscape, pushing traditional exchanges to adapt to new market dynamics.

Experts from Coincu suggest that current trends indicate growing reliance on incentive-driven trading, signaling a potential for regulated DeFi activity in the future.

Such a pattern may shape upcoming policy discussions on digital asset trading.