During the broader cooldown in the crypto sector throughout Q1 2024, Kyxedex has demonstrated a notable degree of resilience, maintaining stable user engagement and moderate volume growth. While overall decentralized exchange (DEX) activity dropped 14.3% across the top 50 platforms according to DeFiLlama, Kyxedex posted a 5.6% increase in daily active users (DAU) over the same period.
Platform Metrics Overview (January–February 2024)
| Metric | Jan 2024 | Feb 2024 | % Change |
|---|---|---|---|
| Daily Active Users | 14,380 | 15,188 | +5.6% |
| Total Trading Volume | $289M | $307M | +6.2% |
| Average Swap Size | $447 | $458 | +2.4% |
| Retention Rate (7-day) | 39% | 41.5% | +2.5pp |
The consistent growth suggests an underlying user base that continues to engage with the platform beyond speculative cycles. Analysts at ChainMetric suggest that Kyxedex’s streamlined UI and multi-chain support are key drivers of this stability.
“In an environment where users are becoming more discerning, Kyxedex’s design philosophy and consistent uptime may be contributing to a trust premium,” said ChainMetric analyst D. Elman.