Decentralized Exchange Volume Rose 103% in September to Record $23.6B Even as...
Strong trading incentives have “cannibalized volume” from other DEXs, said one analyst.
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Record high trading volume and new offerings from Binance are a few of the factors behind Binance Coin hitting a new all-time high at $148. On Feb. 10 Binance Coin (BNB) hit a new all-time high at $148 after the native exchange token rallied 121% since the start of the week. Data from Cointelegraph Markets and TradingView shows that BNB rose from $35.37 on Jan. 11 to $148, a 256% increase in less than a month. BNB/USDT 4-hour chart. Source: TradingViewThree reasons for the explosive growth in the price of BNB include the recent surge in trading volume to a new record high, the expansion of....
Despite falling record-high interest rates in the United States, Europe, and the U.K., Bitcoin was relatively steady in September and added 4.7%. At this pace, the coin posted one of the strongest performances since 2012 and 2016, when BTC rose 23.5% and 5.7%, respectively. Bitcoin Rose In September Despite Attractive Interest Rates Trading at around […]
The decentralized finance (DeFi) market is slumping as large-cap tokens like Uniswap (UNI), Yearn.finance (YFI), and Maker (MKR) decline. Atop the lackluster performance of major tokens, the volume of the Uniswap decentralized exchange has substantially dropped. On September 1, when Uniswap surpassed Coinbase Pro in daily volume, it processed $953.59 million of volume in 24 […]
Uniswap processed $15.3 billion in monthly volume in September, outpacing Coinbase and signalling that DeFi is here to stay. Data from Dune Analytics shows that in the month of September Uniswap decentralized exchange processed $15.371 billion in volume. In the same period, reports indicate that Coinbase processed $13.6 billion.Monthly decentralized exchange volume. Source: Dune AnalyticsThe significant spike in Uniswap’s volume can be attributed to two major factors. First, the explosive growth of decentralized finance (DeFi) and yield farming of governance tokens caused decentralized....
The price of Curve Finance’s governance token CRV spiked by more than 100 percent as the decentralized exchange (DEX) experienced a massive surge in trade volume. Earnings Curve Finance processed about $2.8 billion worth of trades on Monday, almost 450 percent higher than its previous record high in September 2020. The jump in its trade […]