The DEX landscape is undergoing changes, with the market share of established decentralized exchange Uniswap falling from over 50% in October 2023 to 36% currently. As Uniswap's share continues to shrink, Base Layer 2 is growing rapidly, with Aerodrome capturing 7% of the market and Orca's market share growing from 9% at the beginning of the year to 12% last month. Analysts say smaller DEXs are gradually eating into Uniswap's market share, indicating a sustainable change as users seek out and switch to more competitive DEXs that offer long-term advantages rather than short-term incentives.