DEX Trading Volume Hits $10 Billion in a Day, Up 22%

$10 Billion in a Day

Daily trading volume across decentralized exchanges (DEX) platforms reached roughly $10 billion on Friday, Nov 13 (UTC), and aggregate on-chain data shows the total ran 22% above the prior day's count and 19% above the level recorded a week earlier. The reading covers the full Nov 13 UTC session and is the most recent complete-day figure for the sector. DEXs settle trades through smart contracts rather than a custodial order book, so every dollar of that turnover is visible on-chain as it clears.

Attention, as measured by trending ranks on market dashboards, clustered around three pairs as of early Sunday (00:04 UTC). Pons (USDG) topped the board with the token quoted at $0.1151, down 20% over 24 hours. CashCat (WETH) ranked second at $0.04025, a 16% decline. Loot (TON) held third at $0.0005090 after climbing 139%.

The three pairs also span different corners of the market: Pons trades against a dollar-linked asset, CashCat against wrapped ether (WETH) on Ethereum, and Loot against TON. Trending status tracks watch activity rather than traded size, so the list shows where retail attention sat, not where the largest sums moved.

Two of the three most-watched pairs were falling even as sector-wide turnover expanded, a mix consistent with rotation and profit-taking among short-term holders. A 19% week-on-week gain stacked on a 22% daily jump indicates the expansion is part of a build-up rather than a single-day spike. Whether that mix carries into the next session is what the next daily reading will answer.

Volume on this scale also refreshes the question of how much on-chain flow is organic trading and how much is churn between linked wallets, a distinction the raw totals cannot settle.

Orthogonal Rallies 4,620%

The gainers' board produced the day's most extreme print. Orthogonal (OG), a pair on Arbitrum, gained 4,620% over the 24-hour window, the largest rise of any pair tracked. Lia Labs (LIA/SOL) on Solana followed with a 939% gain, and Just A Jacket (USDT) on BNB Chain added 857%. Losses concentrated on BNB Chain: Kava (USDT) fell 38%, Alaya Governance Token (AGT/WBNB) dropped 30%, and Aster (BNB) lost 22%.

Depth tells a sharper story than direction. Wrapped ether (WETH) led the volume table with $312 million traded, a figure equal to 4.2 times its pooled liquidity. Tether USD (USDT/USDS) followed at $274 million, five times its liquidity. Stand With Jensen (SWJ) took third at $249 million despite turning over 195 times its pooled depth, a pace that would exhaust any market maker 's inventory within hours and leaves the pool exposed to steep slippage on either side of a large order.

Transaction counts clustered on stablecoin and utility pairs rather than meme tickers. Tether USD (USDT/WBNB) logged 401,295 transactions, 41% of them buys; AKE/WBNB recorded 272,717 with 46% buys; and wrapped SOL (USDC) 271,318 with 53% buys. Buy-side shares between 41% and 53% point to no single dominant direction in raw transaction terms.

Distinct wallet counts ran narrower still. SOL/USDC drew 30,457 buying wallets against 30,756 sellers, USDT/WBNB 22,599 against 21,138, and TTWO/USDC 19,623 against 22,598.

TTWO is the outlier on that list: it tracks Take-Two Interactive Software, issued as a tokenized stock through Backpack Securities, placing a Nasdaq-listed publisher inside the day's most-traded pairs by wallets. It sits in the same on-chain equities segment that products such as xStocks target, and its appearance among routine volume leaders shows how far tokenized equities have moved into everyday on-chain flow.

Thin Pools, Even Flow

COINOTAG's reading of the session is that Friday's growth is genuine but unevenly distributed. A top-three volume pair turning over 195 times its liquidity is hot capital cycling a thin pool, which can reprice within a single large trade. Wallet counts sharpen the point: across the three most-participated pairs, buyers and sellers finished close to balance, with sellers slightly ahead on SOL/USDC and TTWO/USDC and buyers ahead on USDT/WBNB.

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Whoever stood on the other side of Friday's $10 billion, the record shows them facing nearly matched numbers of counterparties rather than one-way demand.