Total daily trading volumes on decentralized exchanges have surged by nearly $800 million over the past two days.

As cryptocurrency investors reacted to the recent legal actions taken by the United States securities regulator against cryptocurrency exchanges Coinbase and Binance, the median trading volume across the top three decentralized exchanges (DEX) increased by 444 percent in the preceding 48 hours.

Between June 5 and June 7, total daily trading volumes on Uniswap v3 (Ethereum), Uniswap v3 (Arbitrum), and PancakeSwap v3 (BSC), which represent 53% of the total DEX trading volume in the last 24 hours, increased by more than $792 million, according to aggregated data from CoinGecko.

Additionally, a DEX that facilitates the trading of stablecoins, Curve, saw a 328 percent increase in trading volume. At the time of writing, the majority of trading on Curve is focused on trading the United States. During the memecoin frenzy in May, trading volumes on DEXs briefly exceeded Coinbase’s. Because the memecoins were not listed on major centralized exchanges, crypto investors rushed to buy tokens like Pepe (PEPE) and Turbo (TURBO) through Uniswap and a number of other decentralized protocols.

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Net outflows, or the difference between the value of assets entering and leaving the exchange, reached a staggering $778 million on Binance as DEX volumes increased. It is important to note that the exchange’s total reserve is still significantly higher than net outflows at the moment. Binance had a stablecoin balance of more than $8 billion at the time of writing.

The Securities and Exchange Commission (SEC) is taking a slew of legal actions against cryptocurrency exchanges, which coincides with the market frenzy. On June 6, the SEC sued Coinbase claiming it offered unregistered protections and went about as an unregistered protections specialist among different charges.

On June 5, the SEC filed a lawsuit against Binance, Binance. The US and Binance CEO Changpeng Zhao (CZ) face similar allegations. Zhao was accused of being sued as a “controlling person” by the Securities and Exchange Commission (SEC) for allegedly operating illegally in the United States by failing to register as a securities exchange.