Aptos DEXs – A Story of Growth, Rivalries & Shocking Trends
You’re probably about to read the longest thread ever written about DEXs on @Aptos — packe with insights, trends, and surprises.
Ready to dive deep?
Let’s go! 
1. The Big Picture
Over 2.08M users have now traded across Aptos DEXs. That’s not just a number — it’s a city-sized crowd of DeFi believers. 
Together, they’ve traded more than $17.39B in volume over 77M transactions.
The average trade? $162.
But here’s the kicker: the median trade is just $8.
A perfect snapshot of both whales & everyday users in action 
2. End of 2024 — The Peak
The wildest week? 
End of December 2024, with trading volume skyrocketing past $670M.
But when 2025 began, market volatility cooled things off…
Until now 
This week alone (May 5–11), trading volume has bounced back to $540M — a clear sign of revived momentum. 
3. Rise of Token V2
Since Nov 4, Token V2 has taken the main stage.
In just months, it’s captured over 90% of weekly DEX volume.
Evolution in motion. Aptos is not just growing — it’s transforming. 
4. Who’s the King of DEXs?
ThalaLabs wears the crown.
With $6.42B in trading volume, it commands a 37% share of all Aptos DEX activity.
But it wasn’t always this way…
Just a year ago, Thala was sitting at $250M. Now? It’s grown 2500%. 
An explosive climb that started in March 2024 and hasn’t stopped.
Yet despite being volume king, Thala only has 654K users — just 16% of total DEX users. A quiet powerhouse.
5. Cellana – The Challenger
Right behind Thala is CellanaFinance with $4.62B volume (26.5% share).
Its own growth story? Just as epic. From $580M to $4.6B in one year — a 700% increase! 
But like Thala, it’s not leading in users. With 611K wallets, it holds about 15% of total DEX users.
It’s powerful. It’s fast. But it’s still chasing the crown. 
6. LiquidSwap – The People’s DEX
With $2.84B in volume (16.3% share), LiquidSwap’s (PontemNetwork) growth has been calmer, but steady.
It grew nearly 450% over the past year — slow and solid 
But here’s the twist: LiquidSwap dominates user count.
With 1.39M users, it commands 34.5% of all DEX users on Aptos.
The most crowded. The most used. LiquidSwap is where the people go 
7. PancakeSwap – A Familiar Face
We all know PancakeSwap from other chains — and on Aptos, it’s made its mark too:
$1.38B in volume (8% share)
689K users — the second highest after LiquidSwap
Reliable, familiar, and holding its own in the Aptos jungle.
8. Hyperfluid – The Dark Horse
Launched just in Feb 2025, Hyperfluid (hyperion_xyz ) is the plot twist no one saw coming.
In less than 3 months, it’s pulled in $1B in volume.
But here’s what’s crazy:
It only has 21K users – just 0.5% of all DEX users!
That’s a tiny crew doing BIG trades 
At this speed, it might break into the top 3 by summer. Watch this one. Closely.
9. Transactions – The Pulse of DEXs
LiquidSwap (PontemNetwork): 22.4M txs (26.7%)
ThalaLabs: 17.9M txs (21.3%) – up 70% in the past 40 days!
CellanaFinance: 15.4M txs (18.1%) – up 60% in the same period!
PancakeSwap: 13.1M txs (15.6%)
Hyperfluid (hyperion_xyz): 5.4M txs (6.4%) – from zero to millions in a flash!
