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Decentralized exchange volumes hit $23.5 billion in September

Data for September shows that decentralized exchanges saw more than $23 billion in trade volume for the month.

The approximately $23.5 billion in volume reflects a 103% month-over-month increase compared to August's $11.6 billion, according to data published by Dune Analytics, which tracks volumes in the DEX ecosystem. September's volume figure is higher than previously reported.

Two leading decentralized exchanges made up most of September's volume, with Uniswap making up 65% and Curve making up 22%. Uniswap's volume grew by 128% on a month-to-month basis, most likely fueled by the launch of its governance token.

https://www.theblockcrypto.com/linked/79715/decentralized-exchange-volume-september

It will keep going on for the rest of the months in my opinion because Defi hype at its peak, lot of people are interested to trade on decentralized exchanges especially after that airdrop of UNI tokens from uniswap.People will be expecting such kind of airdrop from other decentralized exchange as well but the one important factor the transaction fees are getting out of control so it will be really hard to make profits while trading on decentralized exchange.

After reading the headline i was wondering whether the decentralized exchanges started to get the momentum they were lacking but to be frank i am disappointed that many people are not using these decentralized exchanges and the DeFi movement forced people to use these markets and it is a good thing as i hope people will start using and the volume remains like this in the future.

It seems that those who said a year ago that the future belongs to decentralized exchanges were right. Look how interesting things have coincided. First, Uniswap takes a huge share of the market and takes the lead, then we see the hack of the Kucoin exchange, now there are arrests and a case concerning the Bitmex exchange. In other words, everything that happens in every possible way shows us the danger of centralized exchanges.

Those are exchanges of Etehreum tokens. Such exchanges can easily be decentralised. There are plenty of them.  Hard to make is decentralised exchange that will exchange a cryptocurrencies. Bitcoin with Monero. Or Euro with Doge. That are decentralised exchanges for me. This exchanges you are talking about are Etehreum asset exchanges.

Nah could be down since there a lot DeFi projects turning into a scam, they exit scam and the price was down into the bottom. A few weeks ago, liquidity on Uniswap was down if i was not wrong because some action from Sushi Founder.

This era just same era like ICO, soon or latter they will ended same.

Uniswap has proven to be a game changer and revolutionary platform especially when we talk of decentralized exchange platforms. It is also a fact that due to the revenue earning part through yield farming this type of dexes are popular and market is seeing it as a X factor that gives it an edge over ots competitors.

These stats also goes to show the fact that old dexes along with the centralized exchange platforms both are losing considerable amount of volumes because people are now more involved into features like decentralization plus instant swaps plus yield farming plus AMM mechanism. This new model has really put the old platforms in trouble and i think this new model will dominate in future as well.

I am really happy with how uniswap has performed over the period of last few months and it is now clearly evident that market is adopting this new trading model and rejecting the old methods of trading. Personally i was sick and tired of the gaps or spreads in the traditional trading platforms but instant swaps just give you peace of mind. Also yield farming or liquidity mining is great for longterm holders becausethey can easily make decent income while holding their favorite assets.

https://i.imgur.com/U1f5FjT.png

$23B is an achievement for DEX, its not really big compare to the CEX but its good after all its just starting. Now with the Bitmex tragedy, I think more will come to the Defi platforms. Its growing constantly. The exchanges they count are just the ones on Ether DEX, there must be more outside ETH.


Its just easy to use the swapping, there is no need to choose which orders all it needs is connecting the wallets. I think the old platforms are also about to remodel, there are some that expressed their innovations already.

There is only one reason.

Many aren't ready yet to use a decentralized exchange. We are using centralized exchanges and due to comfortability, we don't want to get into a transition of getting to a decentralized if we have no problems with an exchange.

But soon, there will be additional volume once they see the importance of using it.

The drawback of UNISWAP is the very high fee...
I tried to swap on UNISWAP but was surprised by the fee that reached $ 12, this is really crazy. however, I think UNISWAP's heyday will end because of this high fee and some scam swap platforms.

Sometimes even more than $ 12 USD. trading on the DEX exchange is increasing due to the DeFi trend and a new token sale model (IDO) and some new tokens that hold IDO prices have increased several times so that many people are competing to join. we can see some projects about DeFi can raise a lot of money in a short time.

DEX are indeed growing over the past years and the current updates of many projects helps them a lot.
UNISWAP made a great service despite of the doubt before. The volume increases because of many good projects listed on DEX and some investors prefer to remain anonymous. Well, CEX and DEX are both good, it will just depend of the preference of the users and where they think can earn more. I’m using DEX to trade some new good tokens, its good to have many options.

DEX are the better options but they have limitations that makes CEX still an important part of crypto trading. If decentralized exchanges effectively achieve cross chain integrations, there would be no reason to visit centralized exchange for converting their coin from one to another. DEX still needs work to master margin and leveraged trading options as they can't be as flexible and quick to provide them as a CEX. CEX are still popular with day traders as the trade their is much fast paced than on DEX.
DEX volume would keep on increasing but it would take a great deal to win that of CEX.

Being decentralized exchange itself is not the reason why there volume skyrocket. In fact that give some hindrance on the user because all transactions was slow and fee is very high because its on chain and ETH network can't handle the volume of transaction happening for a short period of time. The only thing why DEX boom this year is because there liquidity pool share feature that gives insane APY% to all liquidity provider.

That's why most the coin listed on Uniswap and Curve has a liquidity for traders to trade most of the coin. On normal DEX before this liquidity pool sharing feature introduced, there is no available volume on the order book of the DEX that's why only few traders are using DEX.

It's because decentralised has a lot of short-comings that's why it didn't gain traction in crypto community. Traders still prefer centralised because of liquidity. But with the advent of this DEFI hype, decentralised might grow because of it.

The question is whether it's going to be sustainable. What if the DEFI hype die down? Will traders go back to their old and traditional way? We should be really using decentralised exchange now, and with the recent Kucoin hack, 'not your keys, not your coins', paradigm, maybe decentralised exchanges should be a good option.

It's not for the last month but when you are seeing the current situation in the market and then it's different. The majority of new defi projects were getting dumped instantly. The volume on some defi has already decreased too.
Uniswap will remain the game changer until the new innovation will be discovered in the future.

Remember when so many people were hyping everything and they have called anything to be game-changers in the future but the only uniswap was able to do it.
The popularity fo uniswap has already started since YFI has been attacking us with a crazy increase.

Haha, I remembered a time when people usually avoided using decentralized exchanges because of them being extremely slow and sometimes unreliable, and now almost everyone is using DEXs. Uniswap completely changed the DEX game if you ask me.

I think that data is reliable because DEX has not induced fake trading volume, for me thats not surprising because the HYPE that sweep the entire Defi market has not yet subsided the $23 Billion volume for DEX is another milestone and I hope it will continue further for the benefits of the entire cryptocurrency market.

It is quite really true that decentralized exchange was now get in the scene. And this was a good news to the crypto world and also to the users and traders of cryptocurrency like us. $23.5 billion exchange is quite too huge and this means that decentralized exchange like Defi are been always used. This is a milestone to be considered and a high hit to cryptocurrency in case let's just wish for the good fortune of cryptomarket and entire cryptocurrency.

Finally something popular and decentralized in crypto

Who would have thought that we are still in pandemic crisis with this amount of money revolving around dex alone? So along with centralized exchanges, the volume is also much bigger. Indeed, crypto market is growing despite of the global situation that we are in. I believe there are some noncrypto users that are converted during this pandemic. They have more time to study what's going on with crypto business.

When the problem with commissions in the Ethereum network is solved, the volume of trading on decentralized exchanges should increase several times. After all, now only those who have large balances can afford to pay such high commissions.

Lols at DEXs. I do love them and I always supported their use in 2016 but let us admit it,,, if not for all these staking pools and liquidity mining and yield farming or whatever it is we want to call these Defi tools now, nobody would be using these DEXs.

And the funny thing is that despite all that value now pushed inside, ETH cannot even sustain $350. Not sure what the future looks like now TBH.

Finally crypto trading has started moving in the right direction as decentralized exchanges are perfectly aligned to the concept and ecosystem of the crypto market so i am happy to see finally volumes growing at dexes.

Keep it up for this kind of very good news and lets hope that it will continue for this following months before the end of the so we can have at least have a good thing that happen for this year. It keep our faith that the trading industry will be in its right track.

This is seriously a huge number and people are not realizing how big it is really. Think about this as something in trading world and we are talking about something bigger in volume than many national stock markets, not USA because that is big, not UK or anything big like that, but think of smaller nations, this is bigger than some of them combined all together.

I do not like defi because it doesn't feel as decentralized as we may think, it looks like there are project teams and those teams have too much power to call it decentralized but I have to accept the fact that defi has grown exponentially and became something huge. Just a year ago I remember defi being a brand new thing and it didn't get that much attention at first and the more it grew bigger the bigger it got.

I am not even entirely sure if this is the real value that is there or not, I mean it says it is and maybe I am blind to the data given but I feel like this 23.5 billion is blown up by just people claiming prices high with locked funds and not really that high in reality.

Maybe I am wrong, maybe it is really 23.5 billion, I wouldn't know if I was wrong or not anyway, however one thing is for sure, I feel like this new high volume because of hype is not going to be something we can sustain, and if we are like this with such a high volume I am afraid we might go down a lot if the volume goes down as well, this high volume should mean we have a huge interest towards crypto and should make the market go up a lot, if it doesn't make it go up with such volume that is a bit dangerous.

As long as the incentives to farm is still there the volume on these DEX will continue to grow, this is a great feat in a short period of time, if the volume on Uniswap can be higher than that of CoinBase this speak's volume. I know some of these CEX are pushing their own DECEFI narratives, I will leave that to the market to decide if to buy into it

Uniswap has already overtaken Coinbase in terms of trading volume, and soon these centralized exchanges will disappear in large numbers, as they lose a very large amount of traffic and capital outflow. Although a couple of years ago, teams paid a lot of money to list on at least some well-known exchange. ;D

For me that is a good sign. The times where projects had to pay up to 1M$ just to get listed on a decent exchange seem to be over.
Nowadays any project can create a pool on uniswap or other swap protocols by themself. Thats a huge improvement in my opinion because now that 1M$ can flow into the development of the actual product.
But that also means every shitcoin can be listed without further checks. So people need to know and double check if they invest in the right project.

It looks like this is why CZ was always saying that if he was rushing to follow the trend caused by UNISWAP has already drained the trading volume that's owned by binance.

Cz was even rushing to put the crap coins on binance too like sushi.
This trend looks so crazy as more money will be locked with the growth of interest by people to the dex.




It's not truly decentralized as the developer of the dex is still having all of the control over the exchange site but at least the community has already started to realize that if we have crypto's own product called dex which has already built at the top of blockchain platform.