# Decentralized Exchange Ecosystem Snapshot

The DEX landscape continues to evolve with clear market leaders emerging. Current protocol rankings by total value tell an interesting story about liquidity distribution:

**Market Leaders:**
Hyperliquid dominates with $5.79B in value, maintaining its position as the heavyweight in perpetual and spot trading. Following closely, Uniswap holds steady at $3.44B, cementing its status as a foundational liquidity layer. Aster_DEX rounds out the top three with $1.66B.

**Notable Performers:**
The recent market action shows promising momentum across several projects. YeiFinance has surged +90.7%, demonstrating strong investor confidence. PersistenceOne follows with +54.6% gains, while SmarDex captured +29.8% upside. ChintaiNetwork moved +27.9%, and Spectra_Finance posted +19.1% appreciation.

**Tokens in Focus:**
$XPRT, $SDEX, $CHEX, and $SPECTRA have been at the center of this activity, reflecting broader DEX ecosystem momentum.

These metrics highlight how the decentralized exchange space continues attracting capital and innovation, with both established protocols and emerging alternatives finding their niches in the broader crypto trading infrastructure.