Catenaa, Sunday, May 25, 2025- Daily active traders on Ethereum-based decentralized exchanges have surged 73% this month, reaching a three-month high of 64,000, driven largely by Uniswap’s commanding presence in the sector, according to blockchain analytics from The Block.
The sharp increase in trader activity, up from roughly 37,000 on May 4, marks a renewed wave of retail investor interest amid a backdrop of rising Ether prices and improving market sentiment.
However, the surge in users has not translated into higher transaction volume. Monthly decentralized exchange (DEX) volume on Ethereum has remained flat around $15 billion, signaling the uptick is being led by small-scale trades.
Uniswap continues to dominate Ethereum’s DEX market, accounting for $13 billion of total monthly volume and attracting about 62,000 of the network’s 64,000 active users. That 97% market share reflects the platform’s ongoing appeal to retail traders despite the entry of newer competitors.
Analysts view the increased retail participation as a potential leading indicator of broader market engagement. Historically, similar activity patterns have preceded more robust institutional inflows and overall sector growth.
While it remains unclear whether this signals a sustained rally or a temporary spike, market observers are watching closely for signs of a deeper breakout.
