10 Best Decentralized Exchanges (DEXs) in 2025 – The Definitive Guide

By -
DEX (Decentralised EXchange) trading volume has absolutely exploded this year — we're now consistently above $150–200 billion monthly across spot and perpetuals combined (DeFiLlama & CoinGecko data as of mid-November 2025). Perpetual futures have officially overtaken spot trading, with Hyperliquid alone doing $5–10B+ daily on some days.

Best Decentralized Exchanges (DEXs)

This guide is based on real-time data from DeFiLlama, CoinGecko, Dune Analytics, and direct on-chain metrics. No fluff — just ranked, battle-tested platforms that real whales and retail traders are using right now.
1. Uniswap (V3 + V4) – The Undisputed King of Spot DEXs
  • Primary Chains: Ethereum mainnet + L2s (Base, Arbitrum, Polygon, Optimism, zkSync, Blast)
  • 24h Volume (Nov 18): ~$2.8–3.5B
  • TVL: $5.4B+
  • Fees: 0.01%–1% (tiered pools); V4 hooks make custom fee logic possible
  • Why #1 for Spot: Deepest liquidity for ETH pairs and long-tail tokens. Uniswap V4's "hooks" allow insane customization (dynamic fees, on-chain limit orders, integrated lending). Still the go-to for launching fair memes and blue-chips alike.
  • Best For: ERC-20 swaps, new token launches, DeFi composability
  • 2025 Standout Feature: UniswapX + cross-chain intents = best execution prices automatically
2. PancakeSwap V3 – Lowest Fees + Massive Retail Volume
  • Primary Chain: BNB Chain (also Ethereum, Arbitrum, Base, zkSync)
  • 24h Volume: ~$2–2.8B
  • TVL: $3.1B+
  • Fees: 0.01%–0.25% (most pools 0.17% or lower with incentives)
  • Why Top Tier: Insanely cheap trades + CAKE farming rewards. Dominates low-cap trading and yield farming. The "everyone's first DEX" for new retail users in Asia and emerging markets.
  • Best For: High-volume cheap flips, BNB ecosystem memes, yield farming
  • 2025 Standout Feature: V4 upgrade incoming with concentrated liquidity v2 and better capital efficiency
3. Aerodrome Finance – Base Chain Dominator (Coinbase Effect)
  • Primary Chain: Base (Coinbase L2)
  • 24h Volume: ~$1.5–2.2B
  • TVL: $2.7B+
  • Fees: 0.01%–0.3% + veAERO vote incentives
  • Why It's Exploding: Base is the fastest-growing L2 in 2025. Aerodrome's ve(3,3) model (inspired by Solidly/Andre Cronje) gives massive bribes → highest real yield for LPs. Coinbase on-ramp makes it retail-friendly.
  • Best For: Base memes, socialFi tokens, high LP yields
  • 2025 Standout Feature: "SlipStream" concentrated liquidity pools = tighter spreads than Uniswap on many pairs
4. Hyperliquid – The Perpetual Futures Monster
  • Primary Chain: Own Hyperliquid L1 (fully on-chain orderbook)
  • 24h Volume: $6–10B+ (perpetuals only — often #1 globally on wild days)
  • Open Interest: $4–6B
  • Fees: 0.02% maker rebate / 0.05% taker (zero gas ever)
  • Why #1 for Perps: Fastest fully on-chain orderbook in existence. 200k TPS, sub-100ms latency, up to 50x leverage. Took massive market share from Binance/Bybit in 2025.
  • Best For: Leveraged trading on BTC, ETH, SOL, memes — pro traders only
  • 2025 Standout Feature: Native spot orderbook + HyperEVM launching Q4
5. Jupiter – Best Solana Aggregator + Perps
  • Primary Chain: Solana (routes across Raydium, Orca, Phoenix, Meteora etc.)
  • 24h Volume (routed): $2–3B spot + $1–2B perps
  • Fees: ~0.1–0.3% effective + tiny Sol gas
  • Why Essential: Finds the absolute best price across 100+ Solana venues. Limit orders, DCA, and perpetuals all in one clean mobile-first UI.
  • Best For: Any Solana trade — retail or whale
  • 2025 Standout Feature: Jupiter Perps V2 with deep liquidity rivaling Hyperliquid on SOL majors
6. Raydium – Solana's Native Liquidity King
  • Primary Chain: Solana
  • 24h Volume: $1.2–2B
  • TVL: $1.6B+
  • Fees: 0.25% (most goes to LPs)
  • Why Still Huge: Hybrid AMM + serum-style orderbook. Deepest native pools for new Solana launches. The "Uniswap of Solana".
  • Best For: New meme launches, large Solana-native trades
7. Orca – Cleanest Solana Retail Experience
  • Primary Chain: Solana
  • 24h Volume: $800M–1.4B
  • TVL: $900M+
  • Fees: 0.01%–0.3% (Whirlpools = concentrated liquidity)
  • Why Top Tier: Beautiful UI, Fair Price Indicator, no rug worries. Whirlpools give capital-efficient liquidity.
  • Best For: Beginners on Solana, stable swaps, retail-friendly
8. dYdX – The Original Pro Perpetual DEX
  • Primary Chain: Own Cosmos-based dYdX Chain
  • 24h Volume: $1–2B perps
  • Open Interest: $800M–1.2B
  • Fees: 0–0.05% tiered (massive rebates for makers)
  • Why Still Relevant: Fully decentralized governance, advanced order types, mobile app. Lost the #1 perps spot to Hyperliquid but still rock-solid.
  • Best For: Professional perpetual traders who want limit orders & hedging tools
9. Curve + crvUSD – Stablecoin & Pegged Asset Master
  • Primary Chain: Ethereum + L2s + many others
  • 24h Volume: $600M–1B
  • TVL: $3.2B+
  • Fees: ~0.04% (dynamic)
  • Why Essential: Lowest slippage for stablecoin and wrapped BTC trades (crvUSD, cbBTC, wbETH etc.). veCRV wars still pay massive yields.
  • Best For: Stable swaps, delta-neutral strategies
10. Phoenix – Solana's True Orderbook DEX
  • Primary Chain: Solana
  • 24h Volume: $500M–1B
  • Fees: 0.1–2 bps (extremely tight)
  • Why Rising Fast: Central limit order book on Solana = actual limit orders, not just AMM. Deep liquidity for majors.
  • Best For: Advanced Solana traders who hate AMM slippage
How to Get Started on DEXs in 2025 – Step-by-Step Setup GuidesBest Wallets for 2025 (My Personal Recommendations)
  1. Phantom → Best overall (especially Solana + multi-chain). Mobile-first, built-in staking, gorgeous UI.
  2. Rabby Wallet → Best for Ethereum/L2 power users (auto chain switching, pre-sign simulation, DeFi toolkit).
  3. Backpack → Solana-native with built-in xNFTs and mad-lad vibes.
  4. Coinbase Wallet → Easiest for beginners + direct Base on-ramp.
  5. Trust Wallet / MetaMask Mobile → Still solid but getting outclassed in 2025.
Universal 5-Minute Setup (Works for 95% of DEXs)
  1. Download Phantom or Rabby
  2. Create new wallet → write down seed phrase on paper (never digitally)
  3. Buy base currency on Coinbase/Kraken/Binance → withdraw to your wallet (start with $200–500 USDC)
  4. For Solana: Use Jupiter to swap some to SOL for gas (~$5 worth)
  5. For Ethereum L2s: Bridge via official bridges or Orbiter/Layerswap (cheaper)
  6. Connect wallet to DEX → approve tokens → start swapping
Chain-Specific Quick Starts
  • Solana: Phantom → Jupiter.sol → swap anything
  • Base: Coinbase Wallet → Aerodrome.finance
  • Ethereum L2s: Rabby → app.uniswap.org
  • Hyperliquid: Go to app.hyperliquid.xyz → connect EVM wallet (no seed phrase exposed)
Critical Risk Warnings – Read This Before Trading
  1. Smart Contract Risk — Even top DEXs can have bugs. Hyperliquid, Uniswap, etc. have been audited dozens of times, but zero-day exploits happen.
  2. Impermanent Loss — If you provide liquidity, prices moving against your pair can wipe gains.
  3. Liquidation Risk (Perps) — 50x leverage sounds fun until a 2% move wipes your position.
  4. Rug Pulls & Fake Tokens — Always check liquidity, contract verification, and use DexScreener/Birdeye.
  5. Regulatory Risk — Some countries are cracking down on leveraged DeFi.
  6. Phishing & Wallet Drainer Scams — Never connect to random sites. Only use official links.
  7. Gas/Fees Can Eat Profits — Stick to L2s or Solana/Base for cheap trades.
Golden Rule: Only trade with money you can afford to lose. Start small.Final Thoughts – Where the DEX Wars Are Heading in 2026
  • Intent-based trading (UniswapX, CoW Swap, Anoma) will kill aggregators
  • AI routing agents will become standard
  • Chain abstraction wallets (like Particle Network) will make "which chain?" irrelevant
  • Perpetual volume will hit $5 trillion annualized by end-2026.
References:

Comments

Post a Comment

Pages

Archive

Show more

Popular posts from this blog

Top 10 Food Companies by Revenue (2025)

By -
Image
Based on the most recent 2025 revenue data as of November 2025 (using trailing twelve months or fiscal 2024 figures where full calendar 2025 data is not yet available due to ongoing reporting), here are the top 10 food companies ranked by revenue. This update incorporates latest quarterly reports, TTM figures, and industry rankings from sources like Food Engineering's 2025 Top 100 Food and Beverage Companies, which notes PepsiCo surpassing Nestlé for the top spot based on reported sales. Top 10 Food Companies by Revenue (2025) This ranking reflects the largest companies primarily by annual revenue, emphasizing food production, processing, distribution, and retail sectors globally ( 1 ,  4 ). 1. Nestlé (Switzerland) Annual Revenue: USD  $113 billion ( nestle.com ) Key Brands: Nescafe, KitKat, Maggi, Purina, Waters Headquarters: Vevey, Switzerland Global Footprint: 188 countries Strategic Significance: World’s largest food manufacturer Notes:  World's largest food ...
Read more

Top XRP ETFs to Watch in 2025: Dominating Holdings, Low Fees, and Performance Insights (November 2025 Update)

By -
Image
On November 13, 2025,  Canary Capital's Canary XRP ETF (ticker: XRPC) became the first pure-play spot XRP ETF to trade on a major U.S. exchange (Nasdaq). Its debut was explosive: $58 million in day-one trading volume — the highest of any ETF launched in 2025 — and early inflows topping $245 million, edging out even the strongest Solana ETF debut. The floodgates opened immediately. Major issuers like Franklin Templeton, Bitwise, Grayscale, 21Shares, and others rushed final amendments, leveraging streamlined SEC processes to bring competing spot products live within days. As of November 19, 2025, the U.S. now has multiple spot XRP ETFs trading or imminently launching, marking XRP's full arrival into mainstream institutional finance. This rapid rollout validates years of anticipation: resolved regulatory hurdles, proven real-world utility on the XRP Ledger, and surging demand for diversified crypto exposure beyond Bitcoin and Ethereum. Analysts now project $5–10 billion+ in cumul...
Read more

Top 10 Gold and Silver ETF Picks for November 2025: Best Investments for Hedging Amid Inflation, Tariff Adjustments, and Fed Easing

By -
Image
Introduction As November 2025 unfolds, the stock market navigates a complex and evolving landscape shaped by President Trump's adjusted tariff policies, which have moderated slightly but still contribute to persistent inflation around 3.4% and economic uncertainty. Despite these headwinds, the Federal Reserve's ongoing rate cuts—totaling 0.875% so far this year—have ignited a powerful market melt-up, with the S&P 500 rallying 39% over the past six months on strong corporate earnings and AI optimism.  Gold prices have surged past $4,150 an ounce as a hedge and inflation buffer, while cryptocurrencies continue to hit new highs and maintain their upward trajectory. However, warnings of an AI bubble abound and linger, with elevated valuations in tech giants signaling potential risks that may not materialize until the Fed tightens policy or if policies change.  Silver prices have risen above $55 per ounce and reached an all time high last month, fueled by industrial demand in ...
Read more

Top 10 Pharmaceutical Companies by Revenue and Market Cap in 2025 (November Edition)

By -
Image
The pharmaceutical industry continues to show robust performance in Q3 2025, with key players reporting strong sales driven by oncology, immunology, and metabolic drugs. Eli Lilly maintains its lead in market capitalization, fueled by high demand for its GLP-1 treatments Mounjaro and Zepbound, with projected full-year revenue growth of around 32%. Johnson & Johnson reported Q3 sales of $24.0 billion, up 6.8%, and raised its 2025 sales outlook. Roche achieved 7% sales growth in the first nine months to CHF 45.9 billion ($52.8 billion), raising its full-year guidance to mid-single-digit growth. Other top companies like AstraZeneca, Novartis, and Vertex reported double-digit growth in key segments. Challenges persist, including patent expirations and biosimilar competition, but new approvals and acquisitions signal continued innovation. This edition updates data with Q3 2025 figures where available. Credit:  fiercepharma.co...
Read more

Tech and Innovation ETFs in 2025: Top Picks, Strategies, and Risks

By -
Image
As we enter the latter half of 2025, the technology sector continues to dominate global markets, driven by breakthroughs in artificial intelligence (AI), semiconductors, robotics, and cloud computing. With the S&P 500's tech component accounting for over 34% of the index and the Nasdaq-100 even more heavily weighted toward innovation-driven companies, tech and innovation ETFs offer investors a streamlined way to capitalize on these trends. These exchange-traded funds (ETFs) provide diversified exposure to high-growth areas without the need to pick individual stocks, reducing some of the inherent risks while maintaining potential for substantial returns. Update:  Top 10 Stocks and ETFs Poised to Outperform in November 2025 This guide explores the current market landscape, key selection criteria for ETFs, top picks for 2025, portfolio-building strategies, associated risks, and forward-looking forecasts. Whether you're a beginner investor or a seasoned portfolio manager, this ...
Read more

Top Silver ETFs to Watch in 2025: Best Picks for Strong Returns and Low Costs

By -
Image
Along with gold, silver is in high demand as precious metals are highly sought after as safe havens in uncertain economic environments, boosting prices and assets for top silver ETFs like the iShares Silver Trust (SLV). Investors use silver ETFs for various purposes. Other than its safe-haven benefits, some invest for speculative reasons, hoping to profit from potential increases in silver prices or as a hedge against geopolitical turmoil or currency devaluation. Keep reading to learn more about investing in silver and see a list of top ETFs investing in the precious metal.   What Are Silver ETFs?  Silver ETFs are exchange-traded funds that provide exposure to the price of silver, a precious metal. These ETFs are designed to track the performance of silver prices, making it easier for investors to gain exposure to the silver market without physically owning and storing the metal itself. Silver's unique combination of properties, including its electrical conductivity, thermal c...
Read more

Top 10 Pharma Companies by Market Cap in 2025

By -
Image
Here are the top 10 pharmaceutical companies by market cap. The pharmaceutical industry remains robust amid evolving market dynamics, driven by innovation, strategic expansions, and shifting healthcare policies. This 2025 update integrates the first half's (H1) financial results to provide readers with a clear snapshot of leading companies’ performance and trajectory. In contrast, most of the other top 10 pharmaceutical companies are expected to see more moderate revenue growth, generally in the range of 6% to 9% by the end of 2025. This reflects steady but less dramatic expansion compared to Eli Lilly’s exceptional performance ( 4 ). Source: CompaniesMarketCap.com Lilly—boosted by sales of its diabetes and obesity drugs Moujaro and Zepbound— projects  its sales to fall between $58 billion and $61 billion. Meanwhile, Novo—which also has been powered by sales...
Read more

5 Best GPUs for AI Video Generation 2025

By -
Image
As AI video generation tools like Stable Video Diffusion, Runway ML, and emerging models from OpenAI continue to evolve, having the right GPU is crucial for creators, developers, and enthusiasts. In 2025, AI video workflows demand high VRAM for handling large models, efficient tensor cores for acceleration, and robust support for frameworks like PyTorch and TensorFlow. NVIDIA remains the leader due to its CUDA ecosystem, but AMD offers competitive alternatives with improving ROCm support. This guide ranks the best GPUs based on performance, VRAM, power efficiency, and value for AI video tasks such as text-to-video, video upscaling, and style transfer. Key Factors to Consider When Choosing a GPU for AI Video Generation Before diving into recommendations, here's what matters most in 2025: VRAM Capacity : Aim for at least 24GB to run high-resolution models without batching or offloading. Architecture : NVIDIA's Blackwell (RTX 50-series) offers multi-frame generation (MFG) for fast...
Read more

Top 10 Stocks and ETFs Poised to Outperform in November 2025

By -
Image
As November 2025 unfolds, the stock market navigates a complex and evolving landscape shaped by President Trump's adjusted tariff policies, which have moderated slightly but still contribute to persistent inflation around 3.4% and economic uncertainty. Despite these headwinds, the Federal Reserve's ongoing rate cuts—totaling 0.875% so far this year—have ignited a powerful market melt-up, with the S&P 500 rallying 39% over the past six months on strong corporate earnings and AI optimism. Gold prices have surged past $4,150 an ounce as a hedge and inflation buffer, while cryptocurrencies continue to hit new highs and maintain their upward trajectory. However, warnings of an AI bubble abound and linger, with elevated valuations in tech giants signaling potential risks that may not materialize until the Fed tightens policy or if policies change. Drawing from analyses by Zacks, Forbes, ValueSense, US News, Morningstar, Bankrate, and Motley Fool, this list highlights 10 high-conv...
Read more

Top Gold ETFs to Watch in Late 2025: Best Picks for Strong Returns and Low Costs

By -
Image
As of November 2025, gold prices have surged to new all-time highs, trading around $4,000 per ounce after rallying over 50% year-to-date amid persistent inflation, geopolitical tensions, and strong central bank demand. This has propelled gold ETFs to exceptional performance, with physical gold funds delivering 40-60% YTD returns and mining-focused ETFs often exceeding 100%.  Top gold ETFs span U.S., European, and Chinese markets, providing options for physical gold exposure or leveraged mining plays. This updated overview incorporates the latest performance data, trends, and forecasts as of early November 2025, highlighting shifts since mid-year. U.S. Gold ETFs U.S. gold ETFs remain dominant, with physical funds like GLD and IAU offering stability, while mining ETFs like GDX provide amplified returns amid expanding miner margins. 1. SPDR Gold MiniShares Trust (GLDM) Type : ETF Sector : Physical Gold Performance : YTD ~+51% AUM : $17.3B Reason : Cost-effective physical go...
Read more