Decentralized exchanges hit five-year January high with over $278B volume in 2026

In January 2026, decentralized exchanges on multiple chains processed more than $278B in trading volume, marking their strongest January in at least five years. While volumes remain below the absolute 2022 peak, activity on networks such as Ethereum, Solana, BNB Chain and Base has surged, with Base alone reaching up to $3.39B in daily trades driven largely by Uniswap and Aerodrome.