On-Chain Share of Spot Volume
The share of spot trading volume that settles on a public ledger rather than inside a centralised exchange, published as a floor rather than an estimate.
Method
On-chain volume is the aggregate twenty-four hour figure from the DefiLlama DEX overview endpoint, across every protocol and chain it tracks. Centralised volume is the sum of self-reported twenty-four hour spot volume from the DefiLlama centralised exchange endpoint.
The share is on-chain volume divided by the sum of the two. A thirty-day figure and its change against the preceding thirty days are pulled in the same call, because a single twenty-four hour window is volatile.
Both sides are pulled on the same day and the pull date is published with the figure.
What this does not show
The two sides are not measured the same way. On-chain figures can double-count where aggregators and routers pass one order through more than one pool, which inflates the numerator. Centralised figures are self-reported and unverifiable, which inflates the denominator. These errors push in opposite directions and cannot be netted off, so the result is a floor: the true on-chain share is this or higher, and we cannot tell you how much higher.
A single twenty-four hour window moves a great deal. The thirty-day figure is the one to hold onto.
Nothing here addresses derivatives, which are larger than spot on most venues and measured even less consistently. This is a spot comparison only and should not be read as a statement about where crypto trading happens overall.
Runs
| Run date | On-chain share of combined spot volume | Change | Files | Write-up |
|---|---|---|---|---|
| 4 August 2026 | 16.4% of combined spot volume settled on-chain | First run | CSV · JSON | Read |
Next scheduled run
1 November 2026. Quarterly, against the same endpoint and the same basis. Each run is published at its own dated URL and nothing is ever overwritten, so this page accumulates runs while every past run stays exactly where it was cited.
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