DEX volumes made up almost 4% of centralized exchange volumes in July — a monthly high

advertisement

Decentralized exchanges experienced a record-breaking July for volume, surpassing $4 billion to hit a new all-time high.

But July also saw the DEX space hit another benchmark: an increase in the ratio of DEX-to-centralized exchange volume. The Block Research found that this ratio reached nearly 3.95%, a jump from June's 2.1%. Prior to June, the ratio had never surpassed 1%.


As reported by The Block, marketplaces Uniswap and Curve accounted for the bulk of July's trade traffic. Uniswap made up 41% of the volume, followed by Curve with 24%.

One reason to explain this positive trajectory is the emergence of new technologies that raise the scalability of decentralized exchanges, which lead to a more competitive exchange offering compared to centralized counterparts, according to a report by The Block's Mika Honkasalo. 

Read The Block Research's full report here

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

Digital asset economy fuels instant settlements innovation

Today the always-on demands of online markets have to be matched with the ability to access opportunities instantly and with no limits. Historically correspondent banks would move large sums of money for those needing to transfer funds while creating bottlenecks of unnecessary friction.
Read Full Story
Sponsored Post

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC
More