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Author Topic: Decentralized exchange volumes hit $23.5 billion in September  (Read 307 times)
MWesterweele
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October 03, 2020, 07:26:57 AM
 #21

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.

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October 03, 2020, 07:51:38 AM
 #22

Finally something popular and decentralized in crypto
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October 03, 2020, 08:02:51 AM
 #23

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.

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.
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October 03, 2020, 09:02:41 AM
 #24

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.
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.

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.

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October 03, 2020, 09:37:10 AM
 #25

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.

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.

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October 03, 2020, 10:42:51 AM
 #26

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
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.

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October 03, 2020, 12:52:14 PM
 #27

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.

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October 03, 2020, 06:23:45 PM
 #28

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.

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October 04, 2020, 05:00:47 PM
 #29

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.

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October 04, 2020, 06:49:29 PM
 #30

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

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October 04, 2020, 07:28:59 PM
 #31

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. Grin
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October 04, 2020, 07:39:00 PM
 #32

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.
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October 05, 2020, 12:00:48 AM
 #33


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.



Finally something popular and decentralized in crypto

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.

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