China’s bans on Bitcoin are actually a situation that the industry is used to. China, which has made negative statements and blocks about BTC many times, made the last of these on Friday.
Cryptocurrencies, which experienced some decline after Friday, started the new week with green color. In particular, some altcoins stand out from other cryptocurrencies!
The coins of decentralized exchanges have made their mark especially in the last few days. It shows that China’s bans have suddenly increased the demand for decentralized exchanges.
The decentralized dYdX exchange surpassed Coinbase’s volume, which also aroused wide media coverage.
Beware of These Coins!
As decentralized exchanges are used, the coins of these exchanges are also experiencing a serious rise. The main decentralized exchange coins, which are positively differentiated from other altcoins and are thought to rise unless there is a sharp drop in BTC in the coming days, are as follows:
dYdX
Uniswap (UNI)
Sushiswap (SUSHI)
PancakeSwap (CAKE)
Serum (SRM)
1inch
*The above list is taken from the coinmarketcap volume ranking.
The tokens of such decentralized cryptocurrency exchanges may become a little more popular in the coming period. Because when we look at the volumes of these exchanges, it is seen that there is an average increase of 15 to 20 percent in all of them today.
However, it should not be forgotten that a new downward wave that may occur in BTC will cause all cryptocurrencies to move downwards. For this reason, while investing in altcoins, it is necessary to look closely at BTC movements and to stop under important levels.
*Not investment advice.