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How can the 30-day trading volume of the stablecoin decentralized exchanges reach US$161.4 billion?

2026-10-11 16:21:48
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本月链上美元代币交易依然活跃

在过去30天里,稳定币去中心化交易所(DEX)的交易量持续保持高位。2026年10月10日分享的数据显示,在35个交易场所中,总交易量达到1614亿美元。本报告涵盖了领先平台以及数据的局限性。

去中心化交易所(DEX)允许用户从自己的钱包中进行代币交易。稳定币是旨在保持价值稳定的代币,通常与1美元挂钩。<>


两个协议版本占据了近一半的交易份额

Uniswap V4 占30天总交易量的25.7%。Uniswap V3紧随其后,占比为21.5%。两者合计占47.2%,即约762亿美元。

PancakeSwap排名第三,占比8.7%。BisonFi占6.0%,Aerodrome占5.3%。下表列出了所有前10名交易场所。

交易场所30天交易量占比 排名第一的交易场所持有的份额几乎是PancakeSwap的三倍。前两名之间的差距为4.2个百分点。


图表关键要点:

  • 前10名交易场所持有约85.7%的总份额。
  • 其余25个交易场所共享剩余的14.3%。
  • 该列表混合了来自不同区块链的平台,例如Aerodrome、Orca和Hyperliquid Spot。

为何交易集中度对流动性至关重要

流动性是指在不引起价格大幅波动的情况下轻松交易代币的能力。更深的流动性池通常能够处理更大规模的兑换,且价格冲击较小。追踪稳定币DEX交易量可以显示这种深度被使用的情况。

稳定币通常在兑换中作为基础配对,因此其活动提供了观察链上需求的有用视角。Uniswap在其官方文档中解释了其V4池的设计。


谨慎解读数据

这些数字来自单一数据提供商的30天快照。其他追踪器可能对交易场所的计数方式不同,因此总数可能会有所差异。此外,图表并未显示是谁进行了交易。

任何关于稳定币DEX交易量的报告都应指出这些局限性。读者可以查看实时交易仪表板以获取完整数据集。


专家观点:高集中度与广泛参与并存

该数据集中有两个信号值得注意。头部集中度很高,因为两个产品占据了近一半的份额;同时参与度也很广泛,因为有35个交易场所记录了活动。

仅凭稳定币DEX交易量无法解释交易者为何选择某个场所。费用、链的选择以及流动性池的深度都可能发挥作用。这一观点仅基于共享的数据,并非预测。


未来数据窗口值得关注的内容

The next 30-day data window will show whether today's share remains the same. Readers can pay attention to the following three points:

  • Whether the two versions of Uniswap continue to maintain a combined share of nearly 47.2%.
  • Whether any new entrants appear in the top 10 list.
  • Changes in the 25 tail trading venues outside the top 10.
  • Changes in total activity at the current level of US$161.4 billion.

Conclusion: A few leaders in a broad market

Thirty days of data show that the market is dominated by two Uniswap versions, followed by many smaller platforms.

The US$161.4 billion stablecoin DEX trading volume demonstrates the activity of US dollar trading on the chain.

These data describe a snapshot rather than a trend or ranking of quality. Before judging any single venue, readers should compare the latest data.



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