Ethereum The number of daily users of decentralized crypto trading platforms has reached 72 thousand after a long period.
Experts, DEX the increasing interest in the stock markets to the bad developments and joke-themed cryptocurrency associated with the popularization of the units.
Especially decentralized giant crypto trading platform on Uniswap The transaction volume exceeded 1.5 trillion dollars. Based on data from market tracker Dune Analytics DeFi The total value of crypto assets locked on its platform is around $4 billion.
The Uniswap Protocol has officially passed $1.5T in trading volume 🚀 pic.twitter.com/Fjd8IP7ngc
— Uniswap Labs 🦄 (@Uniswap) April 24, 2023
According to data from The Block, the number of daily users on Ethereum-based decentralized exchanges has reached the highest level since the end of 2021.
Why Decentralized Exchanges?
The owner of Twitter, the famous billionaire Elon Musk, has changed the logo of his site with a dog image that is associated with Dogecoin in the past few weeks. After the event, astronomical rises occurred in most meme tokens.
DOGE And SHIB Despite falling back to previous levels, the upward movement continues in meme tokens with relatively small market caps. For example, on April 17, it was listed on some central exchanges such as Gate. PEPE The token was valued 7 times in a week.
According to experts, investors flock to DEX platforms to buy such meme coins before they are listed on major exchanges.
Another, and indeed the most important, reason is the sanctions imposed by the US regulatory agencies on major central stock exchanges. The SEC and CFTC’s threats to exchanges such as Coinbase, Kraken and Binance have led investors to decentralized exchanges.
You can reach JPMorgan’s report on the subject in the following news:
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