news 
Top 8 DEXs to Watch Out For in July 2025
As we navigate the ever-evolving landscape of decentralized exchanges (DEXs), it’s essential to stay informed about the latest developments and trends. In this article, we’ll be exploring the top 8 DEXs that you should keep an eye on in July 2025.
Firstly, let’s define what a DEX is. A decentralized exchange is essentially a blockchain-based peer-to-peer marketplace that allows users to conduct transactions directly without the need for any central authority or intermediary. This type of platform provides full control over assets and reduces the risk of hacks, breaches, or mismanagements associated with centralized exchanges.
Now, let’s dive into our top picks:
First up is SushiSwap, a DEX built on the Ethereum blockchain. It has evolved from being just a token swap platform to become a comprehensive DeFi ecosystem offering services like BentoBox for capital efficiency and Kashi for lending and margin trading. In addition to these offerings, SushiSwap allows users to access various blockchain chains such as Binance Smart Chain, Avalanche, Arbitrum, and Polygon.
Next in line is 1inch, a DEX aggregator that pulls liquidity from other platforms to provide the best possible token swap rates. Unlike popular choices like Uniswap or SushiSwap, 1inch does not maintain its own liquidity pool but instead utilizes a routing engine known as Pathfinder to analyze trading routes and select the most efficient one. It also boasts an AMM that reduces front-running and enhances earnings for liquidity providers.
Moving on, we have PancakeSwap V3, a highly popular DEX based on the Binance Smart Chain. The platform’s latest upgrade has brought about more efficient trading options along with concentrated liquidity. As a user-friendly interface with low fees and rapid transactions, it is an ideal option for beginners who opt for Automated Market Makers to make it easy for users to earn fees and provide liquidity.
We have Orca as our fourth entry, a leading DEX on the Solana blockchain that aims to alter the way assets are traded by offering better trading efficiency and transparency. The platform supports instant swaps with low fees and also includes features like Whirpools that can help concentrate liquidity and support emerging projects.
Raydium is another significant player in the market, offering both AMM-style swaps and order book liquidity due to its integration with Serum, a central limit order book-based DEX. It provides users access to staking opportunities, AMM-style swaps, and order book liquidity. Furthermore, traders and liquidity providers can access dual-yield farming and a launchpad called AcceleRaytor that supports new projects on Solana.
Next up is dYdX, which is a decentralized derivatives exchange offering options like perpetual contracts, margin trading, and leverage of up to 20 times. This platform operates with professional-grade order books that give traders the advantage of speed, depth, and functionality. The exchange is free from intermediaries and permits low fees as well as minimal slippage for users.
In addition to its core functionalities, dYdX offers advanced order types, deep liquidity, instant market listings, and a high-performance API for professionals. Lastly, we have Shadow Exchange, which is a DEX built on the Sonic network that focuses on efficient trading through concentrated liquidity and an innovative incentive model. The platform enables liquidity providers to concentrate their capital within distinct price ranges, thus optimizing the use of liquidity for traders and reducing slippage.
Last but certainly not least, we’re including THORChain in our list of top DEXs. It is a protocol that allows users to swap native assets directly while ensuring trustless transactions. Unlike other DEXs, it does not rely on wrapped or pegged assets for trading.
Source: ambcrypto.com
