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

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 Mike Honkasalo. 

Read The Block Research’s full report here. 

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.


DEX volumes made up almost 4% of centralized exchange volumes in July — a monthly high written by Momina Khan @ https://www.theblockcrypto.com/linked/73939/dex-volume-ratio-july?utm_source=rss&utm_medium=rss August 4, 2020 Momina Khan

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