Categories: MarketsMenafn

Canto Dex Becomes No.1: Why?

The Canto Dex trading volume recently surged past $10 billion.

According to data from CoinGecko, the Canto Dex ranked first among decentralized exchanges, reporting a staggering $13.1 billion in trading volume. By contrast, the Uniswap V3 on Ethereum, often seen as the leader, saw just $938.3 million in volume.

The Canto Dex now holds a dominant 68.1% of DEX volume, while Uniswap V3 (Ethereum) claims a mere 4.9%.

Adding to the intrigue, DEX volumes overall jumped by 302.2% in just 24 hours.

DEX Ranking by Trading Volume in the Last 24 Hours. Source: CoinGecko

Canto Dex Sees a 594% Daily Volume Surge

According to GeckoTerminal, the Canto Dex became the top decentralized exchange by daily trading volume, recording a 594.15% increase within a single day. The trading pair driving this surge is wCanto (WCANTO) with Note (NOTE), which saw $10.71 billion in volume and over 203,541 transactions within the last 24 hours.

Interestingly, the price of this trading pair remained relatively stable, showing a modest increase of 3.54%.

Trading Volume of Canto Dex Over the Last 24 Hours. Source: GeckoTerminal

Although GeckoTerminal reports a slightly lower daily volume ($11.36 billion) compared to CoinGecko’s figures ($13.1 billion), the volume remains enormous for what was previously considered a lesser-known exchange.

To put this into perspective, the Solana (SOL) pool on other DEXs reported $1.3 billion in trading volume during the same period, even though it features popular meme coins like Popcat (POPCAT) and Pump.Fun.

What is Canto DEX?

The Canto is a Layer 1 (L1) blockchain, which appears to be undergoing a rebranding, as hinted in its latest post on X (formerly Twitter). The platform’s native token, CANTO, has struggled in recent times, with its price dropping 86% over the past year. Until recently, liquidity was also notably low. For example, on Aug. 19, 2023, CANTO’s trading volume was just $440,113.

Chart of CANTO Price and Liquidity. Source: CoinGecko

However, the Canto Dex has been making waves, breaking into the top 10 crypto exchanges in decentralised finance (DeFi). As of Jan. 25, 2023, DeFiLama recorded Canto Dex’s trading volume at $63.2 million—a 201.15% increase within 24 hours.

Despite its rapid rise, the Canto’s recent activity, low liquidity, and the sudden surge in trading volume have raised questions in the crypto community. Some traders are closely watching CANTO’s price movements and the exchange’s liquidity for signs of sustainability.

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Recent Posts

Sunny Mining Unveils Weekend Incentive Contracts for Short-Term Crypto Profits

Los Angeles, California, 22nd August 2025, ZEX PR WIRE, As digital assets gain increasing attention,…

3 days ago

Price pullbacks are no longer the end: APT miners help XRP investors lock in daily gains

Los Angeles, California, 22nd August 2025, ZEX PR WIRE, After XRP once again fell below…

3 days ago

Irys Raises $10M Series A to Unlock $3 Trillion Data Economy With First Programmable Datachain

CoinFund-Led Round Accelerates Institutional Adoption of Infrastructure For Datachains London, UK, Aug 22, 2025, ZEX…

3 days ago

BJMINING Attracts Thousands of New Users Amid Crypto Rally, Delivering $7,000 Daily Returns

London, UK, 22nd August 2025, ZEX PR WIRE- With the launch of Bitcoin and Ethereum…

3 days ago

XRP holders cash out $5,777 per day through secure blockchain cloud mining.

Start your journey to wealth with one click. Miami, Florida, 22nd August 2025, ZEX PR…

3 days ago

PlanMining Helps XRP Investors Earn $8,800 in Passive Income Daily

London, England, 22nd August 2025, ZEX PR WIRE, In today’s volatile cryptocurrency market, maintaining asset…

3 days ago