Trading activity on decentralized exchanges peaked. What is the reason?

This week’s decentralized exchange (DEX) achieved a milestone in its development. The trading volume on these platforms in just seven days has exceeded the volume of transactions for the whole of 2019. In one week the amount of transactions traders had grown to 2.5 billion dollars. Recall, for 2019 decentralized exchange has processed 2.4 billion transactions. The details of the events shared by the experts of the analytical company Dune Analytics in a new report.

About the difference between centralized and decentralized exchanges can be read in this article. In short: decentralized exchanges are different in that they operate on the basis of smart contracts, do not require the procedure of confirmation of identity and not rely on a centralized organ of control in the face of any company. In addition, they regularly come up with new projects that have not yet sulistio a large centralized platform. It is because of these characteristics they attract traders.

A new record for the cryptocurrency market

Activity in DEX breaks records almost every day, according to Decrypt. All thanks to a sharp increase in the sphere of decentralized Finance. Only the last day of the exchange has processed more than 470 million dollars of orders traders.

DEX in the last 7 days did more in volume than in all of 2019! 2.5 billion dollars in the last 7 days versus 2.4 billion in 2019.

Since the beginning of August the volume of transactions in the decentralized exchanges reached 3.8 billion dollars. Rather, the record trading volume for the month will be broken by the end of August. We will remind, the trade figures for July stood at 4.4 billion dollars. For comparison: in August of last year the total trading volume for the month was only 1.8 billion dollars.

DEX биржи трейдинг

Comparison of the volume of trading on the DEX with the previous year. Red marked volume for individual months in 2020, blue — 2019

This is interesting: CoinMarketCap put Binance Coin in the first place in the ranking of the DeFi and was angered by cryptologist.

Most activity in the environment of decentralized exchanges have on the platform Uniswap — in July it processed the equivalent of at least 1.7 billion dollars. Since the beginning of August the figure for Uniswap already exceeded $ 2 billion. According to Messari, in the period from June to July, the volume of trading on the Uniswap has increased seven — fold from 6.2 million to 43.7 million dollars. The second DEX in popularity is Curve platform for the rapid exchange tablconv.

We will remind, a platform Uniswap need to exchange tokens. With it, you can, for example, to exchange their esters on the LINK, WETH, USDT or any other coin, and you do not need to show your documents. Note that buying the more expensive Unescape simple transaction, as smart contracts use more gas. Accordingly, you should be ready to spend more.

DEX биржи трейдинг

Curve and Uniswap in ranking decentralized applications

Now Uniswap actively used for the exchange of DeFi-tokens, which allow the so-called farmers to experiment with operations in the niche of decentralized Finance and earn. So at the moment demand for services decentralized exchanges is DeFi.

Over the past few months decentralized exchanges were the most popular applications based on blockchain Ethereum. According to the tracker DappRadar, Uniswap and Curve are included in the top ten rankings on the number of active users in this area.

DEX биржи трейдинг

The share of different trading platforms in the total volume of trading on the DEX

And yet, despite the record trading volume on the trading account for just 4 percent of the volume of transactions on centralized exchanges. It is expected that the trend will change in favor of the DEX — that is, in the future, more and more people start to use decentralized trading platforms is centralized.

Криптовалютный трейдер биткоин

Cryptocurrency traders


Platform type Uniswap consume network resources Ethereum and including make it more expensive to use. However, we believe that the advantages are more than disadvantages. Still a huge number of people goes beyond the simple transfer of coins begins to understand decentralized applications and the trend of decentralized Finance. It requires more theoretical knowledge, which in turn strengthens the knowledge base on cryptocurrency. Well, then this information is likely to reach friends that also connects to what is happening.

So in this case is to follow the popularity of such decentralized products and wait until the Ethereum will move to version 2.0. Recall, then the network will be able to cope with a much larger number of transactions, which the current load will be her warm-up.

If you need to select the stock exchange, read about my own experience in choosing the trading platforms. Also don’t forget to visit our cryptcat, there is still more useful.

SUBSCRIBE TO OUR CHANNEL IN THE TELEGRAM. FOR DECENTRALIZATION IS THE FUTURE!

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Trading activity on decentralized exchanges peaked. What is the reason?

This week’s decentralized exchange (DEX) achieved a milestone in its development. The trading volume on these platforms in just seven days has exceeded the volume of transactions for the whole of 2019. In one week the amount of transactions traders had grown to 2.5 billion dollars. Recall, for 2019 decentralized exchange has processed 2.4 billion transactions. The details of the events shared by the experts of the analytical company Dune Analytics in a new report.

About the difference between centralized and decentralized exchanges can be read in this article. In short: decentralized exchanges are different in that they operate on the basis of smart contracts, do not require the procedure of confirmation of identity and not rely on a centralized organ of control in the face of any company. In addition, they regularly come up with new projects that have not yet sulistio a large centralized platform. It is because of these characteristics they attract traders.

A new record for the cryptocurrency market

Activity in DEX breaks records almost every day, according to Decrypt. All thanks to a sharp increase in the sphere of decentralized Finance. Only the last day of the exchange has processed more than 470 million dollars of orders traders.

DEX in the last 7 days did more in volume than in all of 2019! 2.5 billion dollars in the last 7 days versus 2.4 billion in 2019.

Since the beginning of August the volume of transactions in the decentralized exchanges reached 3.8 billion dollars. Rather, the record trading volume for the month will be broken by the end of August. We will remind, the trade figures for July stood at 4.4 billion dollars. For comparison: in August of last year the total trading volume for the month was only 1.8 billion dollars.

DEX биржи трейдинг

Comparison of the volume of trading on the DEX with the previous year. Red marked volume for individual months in 2020, blue — 2019

This is interesting: CoinMarketCap put Binance Coin in the first place in the ranking of the DeFi and was angered by cryptologist.

Most activity in the environment of decentralized exchanges have on the platform Uniswap — in July it processed the equivalent of at least 1.7 billion dollars. Since the beginning of August the figure for Uniswap already exceeded $ 2 billion. According to Messari, in the period from June to July, the volume of trading on the Uniswap has increased seven — fold from 6.2 million to 43.7 million dollars. The second DEX in popularity is Curve platform for the rapid exchange tablconv.

We will remind, a platform Uniswap need to exchange tokens. With it, you can, for example, to exchange their esters on the LINK, WETH, USDT or any other coin, and you do not need to show your documents. Note that buying the more expensive Unescape simple transaction, as smart contracts use more gas. Accordingly, you should be ready to spend more.

DEX биржи трейдинг

Curve and Uniswap in ranking decentralized applications

Now Uniswap actively used for the exchange of DeFi-tokens, which allow the so-called farmers to experiment with operations in the niche of decentralized Finance and earn. So at the moment demand for services decentralized exchanges is DeFi.

Over the past few months decentralized exchanges were the most popular applications based on blockchain Ethereum. According to the tracker DappRadar, Uniswap and Curve are included in the top ten rankings on the number of active users in this area.

DEX биржи трейдинг

The share of different trading platforms in the total volume of trading on the DEX

And yet, despite the record trading volume on the trading account for just 4 percent of the volume of transactions on centralized exchanges. It is expected that the trend will change in favor of the DEX — that is, in the future, more and more people start to use decentralized trading platforms is centralized.

Криптовалютный трейдер биткоин

Cryptocurrency traders


Platform type Uniswap consume network resources Ethereum and including make it more expensive to use. However, we believe that the advantages are more than disadvantages. Still a huge number of people goes beyond the simple transfer of coins begins to understand decentralized applications and the trend of decentralized Finance. It requires more theoretical knowledge, which in turn strengthens the knowledge base on cryptocurrency. Well, then this information is likely to reach friends that also connects to what is happening.

So in this case is to follow the popularity of such decentralized products and wait until the Ethereum will move to version 2.0. Recall, then the network will be able to cope with a much larger number of transactions, which the current load will be her warm-up.

If you need to select the stock exchange, read about my own experience in choosing the trading platforms. Also don’t forget to visit our cryptcat, there is still more useful.

SUBSCRIBE TO OUR CHANNEL IN THE TELEGRAM. FOR DECENTRALIZATION IS THE FUTURE!

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