When it comes to DEXs, TVL or total value locked can be a significant way to measure investors' belief in the project. With that, Curve beat one of the most popular Ethereum DEXs, Uniswap.

Uniswap Remains One of the Most Popular ETH DEXs

Uniswap remains well known for being one of the most popular Ethereum DEXs used to swap tokens. Curve, although it does the same, focuses more on being an exchange liquidity pool providing a way for crypto hodlers to earn passive crypto whenever a swap for a staked pair is made.

As tweeted out by Ben GCrypto, the top 10 crypto projects all have TVLs past the one billion mark ranging from Curve to Synapse. In addition, despite the top three all being on the Ethereum blockchain, there are also other blockchains on the list.

Top 3 DEXs in Terms of TVL All on Ethereum Blockchain

Among the other blockchain DEXs on the list are PancakeSwap, built on the BSC blockchain, Trader Joe, built on Avalanche, VVS Finance, built on Cronos, Osmosis, built on Osmosis, and last but not the least, SpookySwap, built on Fantom.

Ben GCrypto also pointed out the importance of TVL saying that it is necessary when it comes to evaluating the "adoption scale of a Decentralized Exchange" through "calculating the TVL (USD) in the corresponding smart contract.

Here are the Top 10 DEXs by TVL:

Curve

• Cryptocurrency ticker: CRV

• Total value locked: 19.8 billion USD

• Native blockchain: Ethereum

Uniswap

• Cryptocurrency ticker: UNI

• Total value locked: 7.76 billion USD

• Native blockchain: Ethereum

SushiSwap

• Cryptocurrency ticker: SUSHI

• Total value locked: 4.79 billion USD

• Native blockchain: Ethereum

PancakeSwap

• Cryptocurrency ticker: CAKE

• Total value locked: 4.77 billion USD

• Native blockchain: Binance Smart Chain

Balancer

• Cryptocurrency ticker: BAL

• Total value locked: 3.37 billion USD

• Native blockchain: Ethereum

Trader Joe

• Cryptocurrency ticker JOE

• Total value locked: 1.57 billion USD

• Native blockchain: Avalanche

VVS Finance

• Cryptocurrency ticker VVS

• Total value locked: 1.38 billion USD

• Native blockchain: Cronos

Osmosis

• Cryptocurrency ticker OSMO

• Total value locked: 1.37 billion USD

• Native blockchain: Osmosis

SpookySwap

• Cryptocurrency ticker BOO

• Total value locked: 1.37 billion USD

• Native blockchain: Fantom

Synapse

• Cryptocurrency ticker: SYN

• Total value locked: 1.19 billion USD

• Native blockchain: Ethereum

Read Also: DeFiChain Outranked BTC in Top 10 Most Visited Coins in the Last 7 Days

Other Metrics of Measuring the Success of DEXs

DEXs, or decentralized exchanges, remain one of the most useful Dapps in the cryptosphere. Aside from TVL, another important metric to look at is their trading volume since this indicates how much people are using the DEX.

As seen on CoinMarketCap, the top DEX when it comes to trading volume is dYdX with a whopping 1.589 billion USD trading volume in the last 24 hours. Uniswap V3 comes in second with 1.475 billion USD with PancakeSwap V2 following at just 488 million USD.

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This article is owned by Tech Times

Written by Urian B.