Biggest DEX - decentralized exchanges - worldwide in March 2021, based on volume
Decentralized exchange Uniswap had a 7 day trading volume that was over four times higher than that of Sushiwap during the same period in September 2021. Combined, the two online platforms held a market share of roughly 80 percent when it comes to trading on DEX platforms. These exchanges are decentralized in that they are not supervised by a central authority - an (inter)national central bank or financial watchdog - and tend to specialize in the trading of cryptocurrency. They are, however, different from e-trading platforms such as eToro in that DEX platforms are also powered by crypto to even function: The Uniswap platform uses a Uniswap (UNI) coin to verify transactions on the blockchain, whereas Sushiswap used its SUSHI digital coin for the same purpose. This way, DEX are part of the DeFi movement or decentalized finance applications that rely on cryptocurrencies.