- In a recent tweet by Dune Analytics revealed that the year 2020 so far has seen an increase to almost $5.1 billion in the DEXs volumes.
- This is a milestone because it is already five times more than that of the first six months of 2019.
- Uniswap, Curve, dYdX were some exchanges that topped the list for the DEX volume in the last 24 hours.
In a recent tweet by Dune Analytics revealed that the year 2020 so far has seen an increase to almost $5.1 billion in the DEXs volumes. This is a milestone because it is already five times more than that of the first six months of 2019 and June alone saw an increase of $1.5 billion. They have congratulated CurveFinance and BalancerLabs for their extraordinary performance in increasing the DEX volume.
We are halfway through 2020 and the results are in ??
2020 so far saw $5,1 Billion in DEX volume, 5x from the first six months of 2019 ? June alone saw over $1,5 billion ?
— Dune Analytics (@DuneAnalytics) July 1, 2020
UNISWAP, CURVE, BALANCE TOP DEX SO FAR:
Dune Analytics is a platform that enables you to create as well as share analysis of Ethereum data. The smart contract data converted to an understandable human format that can be queried with the help of SQL language. Uniswap, Curve, dYdX were some exchanges that topped the list for the DEX volume in the last 24 hours. On a weekly basis Uniswap, Curve and Balancer top the charts. The total DEX volume in the last 24 hours in approximately around $56 million and that for the last 7 days is approximately $432 million.
INCREASE IN TRADE VOLUMES EVEN DURING THE MARCH CRASH
DEXs have seen a huge uptrend in its trading volumes as compared to 2019. The amount of cryptocurrency that was traded on the DEXs has increased to such an extent that they have surpassed the volume of 2019, a long time ago. More surprisingly, the DEXs saw a huge increase in the daily trading volumes even during the March’s market crash amidst the global pandemic of Covid-19.
During the Black Thursday, there was a huge explosion in the interest of the exchange, Uniswap. During the first day of the crash, almost half of the trading volumes and new users were held accountable for this and the next day its market share increased to 60%.
DEX TOKENS HAVE SURPASSED THEIR CENTRALISED COUNTERPARTS:
Similarly, the DEX tokens have also grown and they have overtaken their centralised counterparts. The spot volumes have leaped from $5 million to $25 million, which in turn has increased the overall trade volume from 0.25% to 0.5%.
Despite the fact that the trading volumes of these DEXs have increased impressively, there is still resistance in the crypto traders this year. Reports have suggested that major DEXs will soon implement some major upgrades aimed at increasing the scalability as well liquidity.