What is the number one Dex?

Could you elaborate on what is meant by the "number one Dex" in the context of cryptocurrency and decentralized exchanges? As the field is vast and evolving, it's crucial to understand which platform is currently leading the pack. Is there a specific metric that determines this ranking, such as trading volume, number of users, or token liquidity? Are there any emerging Dexes that are gaining significant traction and could potentially challenge the current leader? Understanding the nuances and dynamics of this market is crucial for investors and traders alike.