Top 10 Decentralized Exchanges in 2025 (DEX)

In the world of cryptocurrencies, decentralized exchanges (DEXs) are rising rapidly, innovating traditional trading models. Compared with centralized exchanges, DEX has gradually become a favorite among investors due to its advantages such as not having to trust third parties, protecting user asset control, and higher transparency. In 2025, which DEXs stood out and ranked among the top ten in the industry? Let's find out.

As the leading DEX in the Ethereum ecosystem, Uniswap has a huge liquidity pool. Its unique automatic market maker (AMM) mechanism allows users to trade without relying on traditional order books, greatly improving transaction convenience. It not only supports Ethereum and ERC-20 token trading, but also implements cross-chain trading through expansion. However, the AMM mechanism leads to low transaction speed and throughput, and when the market fluctuates greatly, trading delays or slippages are prone to increase, and it is difficult for novices to understand its trading mechanism.

The star DEX on the BNB smart chain has attracted countless fans with its unique reward mechanism and cute pancake logo. Users can obtain additional benefits through farming, pledge, etc., and the interface is friendly and easy to use. However, there are risks in terms of security. Although through audits, there are still smart contract vulnerabilities and hidden dangers of hacker attacks, and some on-chain transaction fees and liquidity are not as good as other DEXs.

From the Uniswap branch, it is now unique. Supports multiple blockchains to provide users with rich transaction options. Its SUSHI governance tokens not only allow users to receive rewards, but also participate in platform governance decisions. However, some early disputes affected some users' trust, and advanced transaction functions have certain requirements for user expertise.