Submit Blog Home » Cryptocurrency News » Cryptocurrency News » Decentralized Exchange Volume Rose 103% in September to Record $23.6B Even as Growth Consolidated Decentralized Exchange Volume Rose 103% in September to Record $23.6B Even as Growth Consolidated October 1, 2020
Oct 1, 2020 at 21:50 UTC Updated Oct 1, 2020 at 21:52 UTC
Individual monthly percentage growth for leading decentralized exchanges since August
September volume on decentralized exchanges recorded its third consecutive month of doubling the trading volume from the previous month after a 160% rise in August, according to Dune Analytics.Aggregate trading volume on decentralized exchanges reached $23.6 billion in September up from $11.6 billion in August, benefiting from continued speculative interest in decentralized finance (DeFi) applications and assets.Leading decentralized exchange platform Uniswap reported a 128% volume increase in September, reaching $15.3 billion after topping its August record 10 days into the month, as CoinDesk previously reported.Growth also benefited from new trading platforms like FTX’s Serum launching in September.Less than 2 weeks after its launch, Serum reported nearly $50 million in volume, according to data aggregator CoinGecko.Even though aggregate volume set a new record, only a few decentralized exchanges reported individual growth.Trading volume on only three platforms—Curve, Uniswap, and 0x—grew by more than 50% since August.
Individual monthly percentage growth for leading decentralized exchanges since August Source: Dune Analytics, CoinDesk Research Successful token distributions by Curve and Uniswap are a main driver of sustained growth, Jack Purdy, decentralized finance analyst at Messari, told CoinDesk.Their tokens have “undeniably benefitted the protocols” by significantly increasing the Total Value Locked (TVL) on each platform, which “directly correlates to lower slippage and a better trading experience,” Purdy explained.
In September, previously popular platform Balancer saw its volume drop 2% while the formerly fast-growing Kyber platform grew by less than 0.5 percent.The uniquely strong incentives of Uniswap and Curve have “cannibalized volume from some of the other decentralized exchanges that don’t have the same market-making incentives,” said Purdy.
Aggregate decentralized exchange volumes since Jan.2019 Source: Dune Analytics, CoinGecko, CoinDesk Research Share this: Bitcoin Indicator Turns Bullish for First Time in 8 Months The list of indicators signaling a long-term bullish reversal in bitcoin (BTC) continues to grow with each passing week.The latest to join the list of a select few is the MACD histogram, which has moved above zero – turned bullish – for the first time since January.The MACD histogram, which oscillates above and… Cambrian Raises $4M to Run $25M Crypto Quant Fund Jul 23, 2020 at 16:00 UTCUpdated Jul 23, 2020 at 16:16 UTCAnomalocaris thrived during the Cambrian Era (Pixabay).Cambrian has landed $4 million of operating capital from high-flying technology and finance investors to help run its $25 million data-driven crypto-trading fund.Cambrian Asset Management, the manager of a quantitative cryptocurrency fund based in Marin County, California,… ‘We Need 30 Different Words for Censorship”, Feat.Andreas M.Antonopoulos May 31, 2020 at 14:20 UTCPodcasts‘We Need 30 Different Words for Censorship”, Feat.
Andreas M.Antonopoulos‘The best Sundays are for long reads and deep conversations.
Recently the hosts of the Let’s Talk Bitcoin! Show gathered to discuss state sponsored propaganda, corporate censorship and how cryptocurrency or decentralization changes the game.Listen/subscribe to the CoinDesk Podcast feed… Three Common Mistakes New Crypto Traders Make When it comes to trading in the crypto space there are three common mistakes new traders make: going against the trend, trading in consolidation periods and forgetting to reduce their risk.This is especially true when it comes to trading highly volatile coins with a low market capitalization and it pays to remember that when bitcoin’s… One Month Later, Which Crypto Is Winning the Bitcoin Cash Split? news One month has officially passed since the bitcoin cash blockchain underwent a hard fork on November 15, resulting in the creation of two distinct networks.
They’re now commonly referred to as Bitcoin Cash ABC and Bitcoin SV.Yet in the weeks that followed the mid-November fracture, there is still no favorite in terms of….
