A recent report from Chainalysis reveals that the value of Leading decentralized exchanges (DEXs) have seen a five-fold increase this year, outpacing the activity and value of most centralized exchanges (CEXs).
The volume of transactions on crypto exchanges has increased exponentially throughout the year. and although it is not fixed However, DEXs such as Curve, PancakeSwap and Uniswap outpaced centralized trading platforms with approximately 550% growth during Q1 and 2 of 2021 by decentralized trading platforms. Most active compared to other business models since Q1 2019
The graph below shows a comparison with other business models such as OTC, derivatives, CEX, and high-risk exchanges (platforms with low KYC requirements).
During Q1 2021, centralized exchanges competed fiercely as the crypto market thrived, but the number of active exchanges later began to decline – with only giants like Binance, Kraken and Coinbase. Only the market leader
“This could be for a number of reasons. Maybe new users are more inclined to hear about the bigger exchanges. So flock there for the first cryptocurrency purchase decision.”
Or perhaps with the superior liquidity of the big exchanges? This allows them to attract the largest customers. Our analysis indicates that the number of crypto assets available to choose from played an important role in the survival rate of the exchanges during the study period.”
The DeFi segment offers a wide range of technological innovations to support the financial markets. Multinational companies trying to test DeFi technology, such as IGN, are planning to launch a DeFi lending protocol using the Authority of the Financial Market (AFM) sandbox.
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