DEX Market Rebounds in Early April as Emerging Chains Surge

The decentralized exchange (DEX) market showed signs of a strong rebound in the first week of April, driven by surging trading volumes on emerging chains such as Berachain (BERA) and Mantle. According to DefiLlama, total DEX trading volume from March 29 to April 4 reached $51.29 billion.

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Ethereum and Solana Maintain Top Positions

Ethereum (ETH) and Solana (SOL) continued to dominate the top ranks.

• Ethereum posted a weekly trading volume of $12.44 billion, maintaining a 26.51% share of the overall DEX market—a 15.52% increase from the previous week. It also held the highest total value locked (TVL) at $7.781 billion.

• Solana followed with $11.336 billion in trading volume, marking a 20.02% weekly increase. Its TVL stood at $2.113 billion, securing the second spot.

In contrast, Binance Smart Chain (BSC) saw a steep decline, with trading volume falling 33.56% to $7.007 billion.

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Mantle Leads Weekly Growth

The biggest gainer this week was Mantle, which recorded a staggering 2,412% increase, bringing its weekly trading volume to $3.245 billion.

• Base also saw significant growth, rising 70.24% to $4.345 billion, with a TVL of $1.399 billion and a market share of 10.57%.

• Berachain (BERA) surged 44.32% to $843 million, gaining notable attention.

• Sui (SUI) joined the growth trend, increasing 68.9% to reach $1.944 billion in trading volume.

Although these emerging chains have relatively lower TVL, their explosive growth in volume indicates strong user inflows and rising on-chain activity.

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Underperformers and Market Outlook

• Avalanche (AVAX) declined 25.62% to $751 million in volume.

• Hyperliquid (HYPE) fell 19.41% to $753 million.

Despite these declines, total DEX trading volume rose to approximately $51.3 billion, maintaining a 32% market share compared to centralized exchanges (CEXs).

Interest in decentralized trading remains strong, with emerging chains leading the charge in reshaping the market landscape.

Industry experts noted

“The influx of activity on newer chains is enhancing DEX market liquidity and diversity. Trading volume reveals growth trends that are not always visible through TVL alone.”