Decentralized Exchanges Set Record High Of $1.5 Billion In June

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Decentralized Exchanges Set Record High Of $1.5 Billion In June
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According to the Dune Analytics research team, DEX activity soared wildly in June 2020. Comparing this to May 2020, we see a 70% growth with a remarkable volume of $1.5 billion. The accumulated volume for May 2020 was $894.2 million.

This is the second time that decentralized market volume has soared past $1 billion. In March 2020, the volume was at $1.05 billion, this shows that June was 43% more triumphant than that of March. The results of June 2020 are big compared to the previous year’s.

Massive Trading Spike In Dex Volume

Leading the skyrocketing trends are Uniswap and Curve. In June, Curve did attract $340.4 million which is an astonishing growth compared to $38 million shown throughout May 2020. Uniswap also has notable previous statistics. During Q1 2020, the Uniswap traders were swapping 225% more of funds than in Q1 2019. The only bad news was April’s liquidity outflow of $10 million. But what’s even more intriguing: Both platforms are making 55% of the total DEX volume for June 2020.

Centralized exchanges are still holding much more of traders’ funds than Decentralized Exchanges.

What Decentralized Exchanges Mean For The Crypto Industry

The main focus of any DEX exchange is that it does not hold the user’s private keys. DEX only gives the traders a special blockchain for transactions and storage of coins. But the keys to those coins never leave the client’s control, increasing the security level.

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Some DEXs have double blockchain, other ones let users support the network solely by themselves. The decentralized software makes it possible to create new forms of exchanges and test them as the history of cryptocurrencies develops. If the user interacts with the exchange of that sort, he supports the ideology of shared effort born from the early days of Bitcoin.