DEX
1.17%
−0.02%24h Change
7d Change
| 7d Chart | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
9 HYPE 9Hyperliquid | $66.17 | −1.10% | −0.50% | 20.49% | $16.77 B | $63.15 B | $337.66 M | |||
38 UNI 38Uniswap | $2.97 | −0.23% | 6.43% | −11.83% | $1.85 B | $2.66 B | $93.22 M | |||
40 ASTER 40Aster | $0.632 | −0.98% | −2.29% | −6.14% | $1.70 B | $4.94 B | $40.19 M | |||
71 JUP 71Jupiter | $0.2109 | −1.48% | 10.29% | 5.64% | $699.26 M | $1.45 B | $26.34 M | |||
81 PUMP 81Pump.fun | $0.001459 | −0.60% | −6.22% | −13.86% | $504.96 M | $1.25 B | $36.45 M | |||
85 CAKE 85PancakeSwap | $1.35 | 0.00% | −2.79% | −4.72% | $440.14 M | $456.96 M | $36.89 M | |||
90 LIT 90Lighter | $1.60 | 1.80% | −4.53% | 36.30% | $402.50 M | $1.61 B | $28.08 M | |||
107 CRV 107Curve DAO | $0.2087 | 0.86% | −12.03% | −8.87% | $317.37 M | $499.85 M | $19.12 M | |||
110 GNO 110Gnosis | $106.76 | 0.59% | 0.53% | −8.91% | $281.79 M | $320.27 M | $838,393.14 | |||
129 PENDLE 129Pendle | $1.35 | −2.36% | 0.50% | −26.10% | $232.06 M | $382.03 M | $20.42 M | |||
155 RAY 155Raydium | $0.622 | 0.22% | −2.06% | −17.45% | $167.03 M | $344.49 M | $14.13 M | |||
157 FF 157Falcon Finance | $0.06985 | −0.77% | −4.24% | −21.50% | $163.31 M | $697.90 M | $6.84 M | |||
175 RUNE 175THORChain | $0.401 | −4.46% | 1.37% | −6.55% | $134.67 M | $140.97 M | $6.05 M | |||
176 EDGE 176edgeX | $0.3827 | −3.67% | 9.97% | −70.04% | $134.30 M | $383.70 M | $3.50 M | |||
177 GENIUS 177Genius | $0.3997 | −2.55% | −8.27% | −35.90% | $134.02 M | $381.21 M | $16.03 M | |||
187 FT 187Flying Tulip | $0.09751 | −0.52% | −5.45% | 9.27% | $119.54 M | $975.10 M | $129,702.00 | |||
200 DYDX 200dYdX | $0.1289 | 6.68% | 7.29% | −12.48% | $108.97 M | $123.72 M | $21.93 M | |||
212 1INCH 2121INCH | $0.0722 | −0.29% | −5.60% | −20.19% | $101.52 M | $107.89 M | $15.73 M | |||
218 O 218o1.exchange | $0.6172 | −7.41% | −2.89% | −6.93% | $98.56 M | $616.00 M | $32.27 M | |||
229 COW 229CoW Protocol | $0.1571 | −0.41% | −0.71% | −3.94% | $90.83 M | $157.20 M | $4.47 M | |||
237 MET 237Meteora | $0.1595 | −1.64% | 35.46% | 21.11% | $84.88 M | $159.74 M | $24.87 M | |||
240 SNX 240Synthetix | $0.2448 | 3.96% | −3.07% | −19.74% | $84.34 M | $84.44 M | $10.62 M | |||
249 MAGMA 249Magma Finance | $0.4275 | −14.17% | 8.08% | 76.86% | $80.88 M | $425.70 M | $2.68 M | |||
256 FLUID 256Fluid | $0.96 | −1.26% | −13.40% | −43.10% | $75.99 M | $96.56 M | $1.99 M | |||
267 CYDX 267CyberDEX | $0.2103 | 2533.75% | 32145.07% | 42326.26% | $73.06 M | $336.48 M | $132,930.00 | |||
269 ORCA 269Orca | $1.19 | 0.84% | 5.26% | −14.05% | $72.96 M | $90.00 M | $14.73 M | |||
278 ZRX 2780x Protocol | $0.0825 | −0.32% | −7.30% | −21.23% | $70.01 M | $82.52 M | $7.59 M | |||
358 DRV 358Derive | $0.08756 | −3.64% | −13.95% | 8.47% | $50.86 M | $87.56 M | $307,110.00 | |||
367 SUSHI 367SushiSwap | $0.1708 | −1.46% | −4.82% | −15.79% | $49.05 M | $49.85 M | $7.49 M | |||
396 VVS 396VVS Finance | $0.00000103 | −1.10% | −5.58% | −15.84% | $44.86 M | $97.96 M | $8,734.86 | |||
443 MMT 443Momentum | $0.19 | 13.90% | 48.72% | 54.90% | $38.49 M | $188.60 M | $30.91 M | |||
498 MNGO 498Mango | $0.02973 | 1.86% | 5.83% | −4.25% | $33.22 M | $33.22 M | $59.08 | |||
499 OSMO 499Osmosis | $0.04264 | −2.46% | −7.16% | −23.87% | $33.18 M | $41.66 M | $4.38 M | |||
501 RTX 501RateX | $0.8981 | −9.46% | −17.78% | −31.51% | $15.04 M | $90.26 M | $222,332.29 | |||
514 EROWAN 514Sifchain | $0.0₅87 | 3.36% | −4.60% | 22.40% | $26,373.46 | $26,414.03 | $6.58 | |||
529 AVNT 529Avantis | $0.1009 | −4.85% | −9.04% | −30.00% | $32.79 M | $101.10 M | $5.28 M | |||
550 CLO 550Yei Finance | $0.2343 | 30.39% | 18.56% | 252.39% | $30.31 M | $234.80 M | $1.97 M | |||
561 BNT 561Bancor Network | $0.2667 | 0.70% | −6.19% | −19.46% | $28.77 M | $28.77 M | $565,359.99 | |||
569 ARKM 569Arkham | $0.1269 | −1.11% | −4.79% | −1.97% | $28.48 M | $126.50 M | $6.43 M | |||
592 FLIP 592Chainflip | $0.3054 | 2.88% | 5.87% | 28.47% | $27.22 M | $27.47 M | $82,955.10 | |||
633 FRAX 633Frax (prev. FXS) | $0.2604 | −1.30% | −7.14% | −37.64% | $24.37 M | $25.96 M | $358,605.82 | |||
656 LON 656Tokenlon | $0.1815 | −0.45% | −4.81% | −19.49% | $22.40 M | $25.49 M | $16,240.37 | |||
658 BASED 658Based | $0.09459 | −0.55% | 20.32% | 32.84% | $22.14 M | $94.22 M | $7.50 M | |||
693 MYX 693MYX Finance | $0.1085 | −1.44% | −35.05% | −34.63% | $20.72 M | $108.60 M | $13.07 M | |||
709 STON 709STON | $0.5346 | 1.37% | −7.92% | −19.80% | $20.02 M | $53.46 M | $8,830.28 | |||
723 VELO 723Velodrome Finance | $0.02141 | 4.11% | 32.73% | 31.59% | $19.59 M | $53.78 M | $4.25 M | |||
724 KNC 724Kyber Network Crystal | $0.1151 | 0.30% | −7.16% | −22.13% | $19.58 M | $27.74 M | $2.60 M | |||
760 LRC 760Loopring | $0.01316 | −0.78% | −4.25% | −16.72% | $18.08 M | $18.15 M | $2.22 M | |||
767 INX 767Infinex | $0.008856 | 12.84% | 9.28% | −14.35% | $17.59 M | $88.18 M | $757,161.49 | |||
769 CETUS 769Cetus Protocol | $0.01837 | 3.28% | −3.81% | −28.33% | $17.40 M | $18.36 M | $2.58 M | |||
772 AEVO 772Aevo | $0.01882 | −1.10% | −5.21% | −23.96% | $17.24 M | $18.80 M | $5.23 M | |||
785 DODO 785DODO | $0.01638 | 3.05% | 4.08% | −7.43% | $16.40 M | $16.40 M | $877,848.80 | |||
811 F 811SynFutures | $0.003655 | −1.47% | −8.95% | −30.14% | $15.67 M | $36.55 M | $3.09 M | |||
825 FUL 825Fulcrom | $0.0009022 | 0.54% | −4.81% | −16.83% | $15.06 M | $18.04 M | $390.79 | |||
841 CHEX 841Chintai | $0.01145 | −2.16% | −22.72% | −34.46% | $14.35 M | $14.35 M | $191,258.39 | |||
852 JOE 852JOE | $0.0308 | −0.88% | −3.49% | −26.46% | $14.11 M | $14.34 M | $4.96 M | |||
860 AQUA 860Aquarius | $0.0003891 | −2.81% | −4.56% | 22.96% | $13.97 M | $38.90 M | $175,046.00 | |||
864 WET 864HumidiFi | $0.06043 | −0.70% | 0.21% | −22.21% | $13.90 M | $60.43 M | $3.26 M | |||
892 GNS 892Gains Network | $0.5638 | −1.34% | −6.66% | 22.71% | $13.22 M | $13.22 M | $806,506.18 | |||
895 CET 895CoinEx Token | $0.01849 | −0.66% | −1.39% | −22.49% | $13.10 M | $51.36 M | $58,803.00 | |||
928 ROLL 928RollX | $0.07998 | −1.65% | 10.94% | 23.43% | $12.40 M | $79.97 M | $144,952.87 | |||
938 H2O 938H2O | $5.38 | −0.19% | −5.11% | −24.44% | $12.14 M | $12.14 M | $394,228.00 | |||
957 DOLO 957Dolomite | $0.02413 | −2.33% | −1.02% | −22.63% | $11.78 M | $24.06 M | $5.08 M | |||
1001 DRIFT 1001Drift Protocol | $0.01777 | −16.36% | 6.21% | −35.48% | $10.87 M | $17.77 M | $7.98 M | |||
1070 MAV 1070Maverick Protocol | $0.01009 | −2.39% | −8.15% | −25.72% | $9.32 M | $20.06 M | $760,302.74 | |||
1075 EPS 1075Ellipsis [OLD] | $0.01321 | 0.34% | −4.69% | −9.72% | $9.23 M | $9.56 M | $4.65 | |||
1102 THE 1102THENA | $0.0649 | 3.12% | −6.32% | −27.99% | $8.67 M | $18.50 M | $2.11 M | |||
1124 HFT 1124Hashflow | $0.0099 | −0.44% | −4.71% | −17.65% | $8.32 M | $9.90 M | $1.92 M | |||
1150 THOR 1150THORSwap | $0.03097 | 1.99% | −13.99% | 13.14% | $7.88 M | $8.71 M | $4,737.86 | |||
1179 SDEX 1179SmarDex | $0.000758 | 0.04% | −0.76% | −43.77% | $7.42 M | $7.57 M | $76,378.24 | |||
1188 MCB 1188MUX Protocol | $1.91 | −6.34% | −6.80% | 50.00% | $7.30 M | $9.17 M | $51,138.00 | |||
1204 HDN 1204Hydranet | $0.03492 | −3.85% | −5.76% | −22.89% | $7.15 M | $10.48 M | $87,289.00 | |||
1205 QUICK 1205Quickswap [OLD] | $9.43 | 0.96% | −1.57% | 3.97% | $7.14 M | $8.69 M | $7,653.99 | |||
1236 ANY 1236Anyswap | $0.5106 | 1.13% | −4.22% | −4.39% | $6.73 M | $51.06 M | $1.04 | |||
1239 BAL 1239Balancer | $0.0959 | −0.68% | −12.96% | −32.50% | $6.70 M | $6.95 M | $91,724.91 | |||
1264 STORM 1264Storm Trade | $0.006247 | 1.10% | −5.00% | 29.25% | $6.49 M | $6.49 M | $84,547.62 | |||
1301 BLUE 1301Bluefin | $0.01153 | −0.31% | −1.61% | −30.99% | $6.06 M | $11.53 M | $2.08 M | |||
1316 PEAR 1316Pear Protocol | $0.02277 | 27.41% | 46.16% | 48.88% | $5.86 M | $19.41 M | $84,871.00 | |||
1337 NEX 1337Nash | $0.1269 | −7.50% | −7.68% | −8.63% | $5.62 M | $6.35 M | $967.04 | |||
1357 QUICK 1357Quickswap | $0.007166 | 0.95% | −0.06% | −16.64% | $5.42 M | $6.60 M | $185,638.38 | |||
1388 EKUBO 1388Ekubo | $0.523 | 3.88% | 1.63% | −5.23% | $5.23 M | $5.23 M | $25,264.00 | |||
1398 MIN 1398Minswap | $0.002992 | 0.79% | −12.80% | −29.18% | $5.18 M | $7.40 M | $70,967.87 | |||
1410 OPAL 1410Opal | $0.1014 | 1.34% | −22.98% | 95.43% | $5.07 M | $7.10 M | $5,728.54 | |||
1431 PNG 1431Pangolin | $0.0209 | −0.46% | −9.67% | −25.58% | $4.90 M | $4.81 M | $156,218.00 | |||
1483 GDOT 1483GIGADOT | $0.9357 | −0.53% | −6.79% | −25.89% | $4.58 M | $4.58 M | $2,650.34 | |||
1667 MKL 1667Merkle Trade | $0.03308 | 0.67% | −4.31% | −25.10% | $3.31 M | $3.31 M | $0.67 | |||
1757 RION 1757Hyperion | $0.1746 | 0.94% | −2.91% | −13.94% | $2.96 M | $17.44 M | $93,405.39 | |||
1765 LAYER 1765UniLayer | $0.0736 | 10.01% | 8.87% | −18.75% | $2.94 M | $2.94 M | $51,721.30 | |||
1808 RHEA 1808RHEA | $0.013657 | −1.49% | −12.72% | −1.49% | $2.72 M | $13.62 M | $173,054.95 | |||
1850 REX 1850Etherex | $0.007366 | 3.57% | −3.22% | −39.34% | $2.58 M | $7.37 M | $331.42 | |||
1855 KYO 1855Kyo | $0.01566 | 0.28% | −0.88% | 1.70% | $2.56 M | $3.13 M | $1.16 M | |||
1864 EXCC 1864ExchangeCoin | $0.08201 | −0.04% | −6.13% | −10.91% | $2.53 M | $2.62 M | $40,279.00 | |||
1866 DRG 1866DragonSwap | $0.01027 | 0.88% | −0.29% | −13.41% | $2.52 M | $10.27 M | $8,016.54 | |||
1895 DIME 1895Paradex | $0.01092 | −15.21% | −22.53% | −45.81% | $2.42 M | $10.92 M | $2,529.07 | |||
1908 SWAP 1908HyperSwap | $0.03458 | 2.68% | 1.96% | 38.89% | $2.35 M | $3.19 M | $7,146.97 | |||
1913 KDK 1913Kodiak Finance | $0.1583 | 0.05% | −0.72% | −14.38% | $2.33 M | $15.83 M | $40,481.00 | |||
1923 ALOT 1923Dexalot | $0.03604 | −0.67% | −4.05% | −14.65% | $2.28 M | $3.60 M | $4,688.70 | |||
1978 XSUSHI 1978xSUSHI | $0.2713 | −1.57% | −4.46% | −15.48% | $2.12 M | $16.57 M | $805.77 | |||
1979 ZEX 1979Zeta Markets | $0.01126 | −5.01% | −5.63% | −44.66% | $2.11 M | $11.26 M | $149,849.35 | |||
1999 RAILS 1999Rails | $0.06224 | 19.50% | −2.64% | −18.74% | $2.06 M | $4.05 M | $6,708.16 |
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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.