Ethereum has once again cemented its leadership in the decentralized finance (DeFi) space. According to the latest data from DeFiLlama, Ethereum recorded an impressive $2.038 billion in 24-hour decentralized exchange (DEX) volume, outperforming all other blockchain networks.
This performance highlights Ethereum’s continued dominance in the DeFi sector, driven by high user activity, deep liquidity, and robust infrastructure. While many layer-1 and layer-2 chains are growing rapidly, Ethereum’s established ecosystem remains the go-to for serious traders and DeFi protocols.
Why Ethereum Maintains Its Edge
The reasons behind Ethereum’s sustained DEX dominance are multifaceted. For one, Ethereum hosts the largest number of DeFi projects, including major DEXs like Uniswap, Curve, and Balancer, which consistently contribute to high trading volumes. Its strong developer community and early adoption have also helped build a solid foundation.
In addition, Ethereum’s transition to proof-of-stake and its ongoing scalability improvements via layer-2 solutions are making the network more efficient and cost-effective, drawing even more users to its DEX platforms.
UPDATE: Ethereum tops all chains with $2.038B in 24h DEX volume, per DefiLlama. pic.twitter.com/CId1evz9YG
— Cointelegraph (@Cointelegraph) November 25, 2025
DeFiLlama Confirms Ethereum’s Top Spot
Blockchain analytics platform DeFiLlama provided the data confirming Ethereum’s top position. The $2.038 billion in daily DEX volume sets Ethereum apart from competitors like Binance Smart Chain, Arbitrum, and Solana, which have seen significant growth but still trail behind in daily volume.
This figure underscores Ethereum’s role as the backbone of the DeFi movement, with institutional and retail users alike relying on its security and liquidity for decentralized trading.