TLDR
- DEX volumes accelerated to $10.03B on September 30, 2025, marking a steep increase from mid-2024 levels.
- Blockchain scalability, lower fees, and CEX pressure fueled DEX growth and adoption through 2025.
- SEI broke its descending trendline, holding supports between $0.22 and $0.26 after months of consolidation.
- SEI’s breakout projects a potential climb toward $0.38–$0.44 if buyers defend demand zones.
Decentralized exchange (DEX) volumes have surged significantly, marking a new stage in crypto market participation. Data from DeFiLlama shows DEX activity hitting $10.03 billion on September 30, 2025. At the same time, SEI price has broken through a prolonged downtrend, showing signs of a shift in market sentiment. Together, these moves reflect the growing role of decentralized platforms and their impact on trading behavior.
DEX Volume Growth Reflects Expanding Market Participation
The increase in DEX activity has been steady since mid-2024, after months of relatively flat growth earlier that year. By early 2025, trading volume began accelerating sharply, suggesting stronger liquidity inflows. The climb to more than $10 billion signals rising adoption across both retail and institutional participants.
DEX Trading Volume 1M Chart | Source: X
This expansion comes as centralized exchanges face tighter regulatory controls. Many traders are moving to DEXs for transparency and self-custody. Improved scalability of blockchain networks and lower transaction costs have also supported this migration. The growth trajectory suggests decentralized platforms are evolving from niche markets into key pillars of global trading.
Institutional Interest Adds Momentum
Furthermore, institutional involvement appears to be a driving factor behind the steep rise. Larger trades demand deeper liquidity, and that seems to be fueling the near-parabolic growth visible since early 2025. Institutions often seek environments with strong price discovery, which DEXs are beginning to provide.
Alongside this, retail participation remains strong. Traders benefit from access to diverse tokens, immediate execution, and a reduced reliance on centralized intermediaries. This combination of institutional and retail flows is reshaping the balance of activity between decentralized and centralized exchanges. If the current trend holds, volumes may cross $12 billion before the end of 2025.
SEI Price Shows Signs of Recovery
In addition, SEI has broken a descending trendline after months of consolidation, suggesting a possible trend reversal. The breakout followed a long accumulation phase where price action was tightly contained. Such setups often precede directional moves once resistance is cleared.
SEI/ USD 1D Chart | Source: X
The chart also shows strong support between $0.22 and $0.26, areas where buyers have stepped in previously. Holding above this zone keeps the bullish outlook intact. A projected path indicates potential gains toward $0.38 to $0.44, levels aligned with prior resistance. The staged recovery could see pullbacks along the way, a normal behavior during trend reversals.
Risks Remain for Traders Watching SEI
At the same time, despite the breakout, risks are still present. A failure to defend the highlighted support zones could push SEI back into a lower trading range. Traders may consider these areas as invalidation levels when weighing positions.
Market-wide conditions also matter. While DEX volume growth shows broader confidence in decentralized platforms, volatility across the sector could affect SEI price performance. Continued momentum depends not only on buyer strength but also on how well exchanges manage liquidity and scalability challenges.
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