In DeFi, “liquidity” is the key factor that keeps everything running smoothly. Whether a user wants to swap tokens, buy or sell assets, or trade cryptocurrencies, liquidity is the backbone that enables fast and cost-effective transactions for them. The amount of liquidity available on a DEX can make or break the trading experience for a user. A DEX with high liquidity allows users to trade at better prices with minimal slippage. But with low liquidity? This scenario will be completely opposite. So, I have spent some time researching the DEX ecosystem, and I’ve identified a list of decentralized exchanges with the highest liquidity.
In this blog, let me break down the list of DEXs with the deepest liquidity. This guide will help traders who are searching for a perfect DEX platform with high TVL (Total Value Locked) to facilitate better trades.
Let’s get started!
Before stepping into the core topic, first let’s understand…
Why is High Liquidity Important In a DEX?
Many of you know that our traditional finance works with liquidity. This same concept also applies to DeFi. But, instead of central authorities and big institutions, it’s powered by users and protocols.
Here’s what a DEX with high liquidity does:
- If the user trades on the platform with high liquidity, then the user will experience little slippage for large trades.
- With high liquidity, users can expect stable and fair pricing across trades.
- With reduced slippage and reliable execution, the platform can attract a larger user base, which helps to increase its TVL too.
- Stable pricing and smoother trades build users’ trust and help ensure consistent availability of liquidity.
Right. It’s time to jump into our core topic. Let’s see…
List Of Decentralized Exchanges With Strong Liquidity
Here’s the list of leading DEX platforms that have more liquidity.
#1 Uniswap
Uniswap is a popular decentralized exchange platform that supports 5+ blockchains, such as Ethereum, Arbitrum, Optimism, Polygon, Base, and more. As per early July 2025 reports, this DEX holds about $5.4 to $5.8 billion locked across all supported blockchain networks. Here, Ethereum and its own chain, known as Unichain (based on Optimism), hold approximately $858 million in liquidity.
Additionally, Uniswap handles over $1.5 billion in trades approximately across all its supported chains every day.
What Makes Uniswap Stand Out?
- A large amount of liquidity is available for trading on Ethereum and other networks such as Arbitrum and Optimism.
- There are tens of thousands of active trading pairs, and many more pairs could be created.
- This platform is trusted by numerous wallets, trading apps, and a variety of DeFi applications.
#2 Curve Finance
Curve Finance is highly known for its efficient stablecoin swapping capability. This platform supports Ethereum and multiple networks. It’s especially designed to handle stablecoins (like USDT and USDC) and similar assets smoothly. Moreover, this DEX keeps asset prices stable and reduces slippage when a user trades these types of tokens. Because of these qualities, this platform secured a place on this list of decentralized exchanges.
The reports of early July 2025 indicate that Curve Finance holds about $2.2 to $2.3 billion in assets. And, most of them are seen on Ethereum.
What Makes Curve Finance a Preferred Choice?
- Stablecoin trades are very efficient, providing you with almost precise value and minimal price impact.
- It’s a better choice for participating in yield farming or lending, where keeping asset prices stable is essential.
- Users who lock CRV tokens as veCRV can earn higher rewards and voting power.
- If you frequently engage in yield farming, staking, or using stablecoins, Curve can make your trades smoother and more cost-effective.
#3 PancakeSwap
PancakeSwap is a top DEX platform; it facilitates a huge number of trades with low fees and minimal slippage. This platform supports various blockchain networks like Ethereum, BNB Chain, Aptos, Arbitrum, Solana, Polygon, Base, and more. Additionally, it enables multichain functionality for users.
As of early July 2025, the reports show that the Pancakeswap DEX holds approximately $1.8 billion in total value locked. Moreover, the reports represent that Pancakeswap handles over $6.5 billion in daily trading volume.
What Makes Pancakeswap the Best Choice?
- It offers lots of stablecoin and BNB trading pairs, especially on the BNB Chain.
- It facilitates super-fast trades by collecting lower gas fees across multiple blockchains.
I’ve mentioned PancakeSwap in the list of decentralized exchanges because this platform now handles $14 billion in weekly trading volume and $153 billion monthly. As a result, the TVL in this platform is constantly increasing day by day.
#4 SushiSwap
SushiSwap is especially known for “cross-chain liquidity”. This platform permits users to trade assets across different networks. Users can move their funds to where they’re most useful or where the best trading opportunities are.
The Total Value Locked (TVL) in the SushiSwap, as per the report of July 2025, goes beyond $500 million to $600 million across all capable blockchain networks. This is one of the DEXs with deep liquidity.
What Makes SushiSwap Stand Out?
SushiSwap stands out because of its notable functionalities. Let me break down what they are:
- SushiSwap provides good liquidity not just for major coins but also for altcoins and new project tokens.
- This platform is managed by its community through a decentralized autonomous organization (DAO).
- SushiSwap partners with various blockchain ecosystems to increase liquidity and facilitate efficient trades for their users.
SushiSwap is a user-friendly platform in this list of decentralized exchanges. It connects with multiple networks and retains consistent liquidity.
Related Article: Top 7 Features of Best Decentralized Crypto Exchange
#5 GMX
The GMX decentralized exchange platform comes with special characteristics. Unlike normal DEX platforms that allow normal swapping functionalities, GMX comes with perpetual trading features. This solution enables users to trade crypto assets with leverage (borrowed money).
At the time of writing this blog, July 9, 2025, GMX’s GLP pool on Arbitrum was attacked by hackers, and over $42 million has been stolen. Before this incident, the GMX V1 GLP pool on Arbitrum had about $100 million locked (before March 2024), but now its TVL is much lower because of the hack.
However, GMX V2 operates on separate pools and held over $450 million before this year, and it hasn’t faced any hacks yet.
What Makes GMX Special?
- GMX offers deep liquidity for high-leverage trades. So, users can make big trades more smoothly without facing more slippage.
- On this platform, LPs can earn real yield by receiving a good share of trading fees.
- After the hack, GMX has been fostering its security, which is attracting more liquidity providers and is expected to increase the Total Value Locked (TVL).
#6 Balancer
Balancer is in the list of decentralized exchanges with the deepest liquidity. This platform can support more than 8 blockchains. Unlike other platforms, Balancer has some unique functionalities; users can create custom liquidity pools. This means users can pair tokens with a ratio of their choice. For example, a user can add 80% of one token and 20% of another, or 60/40, and so on.
As reported in July 2025, Balancer’s platform has locked in more than $1.1 billion in assets. And, the number of users is increasing every day thanks to its custom ratio feature.
This platform lets DAOs and funds build diversified portfolios that automatically rebalance over time. In summary, the Balancer stays strong in liquidity, and it’s popular among millions of users.
Related Article: The Role of DeFi Liquidity Pools in Decentralized Platforms
#7 Thorchain
Thorchain brings something unique to the world of decentralized exchanges. This platform allows users to trade cryptocurrencies like ETH, BTC, and more across multiple blockchain networks. So, Thorchain users don’t need to convert their assets into wrapped or synthetic tokens; they can trade actual assets across different chains.
As per the July 2025 report, Thorchain holds approximately $180 to $250 million of Total Value Locked (TVL) funds. Over the past year, there has been a continuous rise in these numbers.
What Makes Thorchain Special?
- Thorchain is highly recognized for its ”top-tier security”. This platform protects users’ funds by consistently rotating its validators in a process called “churning.” This technique helps the protocol shield itself from hacks. Plus, validators are financially motivated to act honestly; if they cheat or break the rules, they lose their staked money. This combination helps keep the network very secure and trustworthy.
- This platform supports major blockchains and works with Bitcoin, Ethereum, BNB Chain, Avalanche, Cosmos (ATOM), Dogecoin, Litecoin, XRP, Base, and more.
Now, you have explored the list of decentralized exchanges with the deepest liquidity.
Closing Thoughts
The DEX platforms mentioned above are popular ones and highly recognized for sustaining liquidity in the long term. However, in this highly fluctuating DeFi market, anything can change overnight. It’s always recommended to do your own research before choosing a DEX for trading. You can SUBSCRIBE to our blog to get up-to-date insights about DeFi and DeFi business.
As more people search for DEX platforms with advanced features and smoother trading experiences, the demand for unique decentralized exchange platforms is still increasing. This will be the perfect opportunity for entrepreneurs and businesses to capitalize easily in this space.
If you have any plans to start a DeFi business in this sector, then it’s highly recommended to partner with Trioangle. As an industry-recognized decentralized exchange development company, our crew of experienced DeFi developers helps you build a unique DEX platform that fits your business needs.
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