About this Chart

Pair Categories

The classification of pair categories is determined in a top-to-bottom manner.

• Native-Stablecoin: the trade involves the native gas token on the blockchain and a stablecoin.
• Bitcoin: the trade involves a Bitcoin-pegged asset. Some notable trading pairs are BTC-ETH, BTC-USD, and BTC-BTC (for example, cbBTC-WBTC).
• Stablecoin Swaps: the trade has both the bought token and sold token as stablecoins.
• LST Swaps: the trade involves a Liquid Staking token.
• Tokenized Assets: the trade involves a tokenized asset. Examples include Gold, Equities, and Treasuries.
• Composite Assets: the trade involves an composite asset. Examples include leveraged crypto tokens, portfolio of crypto tokens, and LP tokens.
• Project Tokens: the trade involves tokens that are issued by projects. An example would be governance tokens and L1 tokens (excluding Bitcoin).
• AI Agents: the trade involves an AI agent token.
• Memes: The remaining volume from known memecoins as well as unclassified tokens.