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, Volume on decentralized exchanges (DEX), Forex-News, Forex-News
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Volume on decentralized exchanges (DEX)

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, Volume on decentralized exchanges (DEX), Forex-News, Forex-News

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, Volume on decentralized exchanges (DEX), Forex-News, Forex-News

Decentralized exchanges (DEX) posted a volume of $ 56.47 billion during the month of July. Which represents another monthly decrease.

Specifically, a recent report from “The Block” breaks down monthly volume as follows:

  • 65% of the monthly volume figure was derived from Uniswap V2 and V3. Which correspond to $ 10.6 billion and $ 26.57 billion, respectively.
  • SushiSwap posted $ 6.07 billion in monthly volumes.
  • Curve posted $ 5.13 billion in monthly volumes.

That is, the monthly figure signifies another month-over-month decrease, compared to $ 80.85 billion in June. Incidentally, the DEX ecosystem peaked in volume in May, recording $ 162.02 billion in volume. And, Uniswap V3 went live this month.

, Volume on decentralized exchanges (DEX), Forex-News, Forex-News

Very importantly, according to the report, the percentage of spot trading volume on decentralized exchanges (DEX) compared to centralized exchanges was 8.98% for the month. A slight increase from the June figure.

Volume on decentralized exchanges

It is worth mentioning that the volume of decentralized exchanges reached a record $ 55 billion in January. With Uniswap and SushiSwap registering a significant increase in activity on their platforms.

However, the volume of decentralized exchanges (DEX) on Ethereum reached record levels. Traded in January more than $ 63 billion. While in February it exceeded $ 61 billion.

, Volume on decentralized exchanges (DEX), Forex-News, Forex-News

Also, DEX volume soared in late February, followed by a downtrend during the first week of April. In effect, he saw the total trading volume on all DEXs drop as low as $ 603 million on April 4.

Ultimately, as the price of Bitcoin decreased from April 6 to April 8, the DEX volume began to rise and reached a peak on April 7.

In particular, the volume of DEX experienced a substantial increase as of April 18. On the same day that Bitcoin experienced a 16% retracement in price from $ 60,900 to $ 50,500. DEX daily volume reached its highest level in weeks on April 22.

As a Messari report shows, almost the same amount of money was traded in May alone as in the entire first quarter of this year, before falling to less than half in June.

The great advantage of decentralization

To better understand, when we talk about decentralization, we usually talk about trust. Well, the main reason why people seek to decentralize processes is to make them more efficient and transparent than they would be if a single entity had total control over them.

Equally, this is also the situation when it comes to decentralized exchanges. Well, despite the fact that Blockchain technology allows high levels of decentralization in the financial system. It has not had its counterpart in the world of exchanges.

I retire with this phrase from Benjamin Franklin: «The path to wealth depends fundamentally on two words: work and savings».

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, Volume on decentralized exchanges (DEX), Forex-News, Forex-News

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