Decentralized exchange platforms (DEX) are getting more and more attention, in particular thanks to the constant evolution of the volumes recorded. Despite this development, the latter are still far from competing with the volumes of conventional exchange platforms. Analysis!
Explosion of decentralized trade volumes
We were talking about it last January, the decentralized exchange platforms (DEX) recorded record levels in terms of volume in 2019, reaching the 2.3 billion dollars traded .
Since January 2020, these volumes have continued to grow, in particular through the development of decentralized finance and the emergence of many DEX aggregators.
Since then, the DEX have smashed the 2019 record by having already accumulated a volume of $ 3 billion . In early January, they accumulated a monthly volume of $ 61 million. This metric increased by 213% in just 3 months, to reach a local maximum with a volume of $ 193 million in March.
Evolution of weekly volumes - Source: Decrypt .
At the head of the file, we find the Uniswap platform . This is the source of 25% of the total volume generated by the DEX , with $ 755 million traded since early 2020.
In second and third place we find Kyber and dYdX shoulder to shoulder, with respectively 562 and 538 million dollars traded since the beginning of 2020.
Cumulative volume of each DEX since January 2020 - Source: Decrypt .
DEX are still far behind centralized platforms
Despite constantly changing statistics, decentralized exchange platforms are still struggling to compete with their centralized alter ego .
Indeed, traditional exchanges process a daily volume of 5.83 billion dollars , twice the amount generated by decentralized exchange platforms throughout the whole of 2019.
As Larry Cermak, researcher for TheBlock, pointed out, decentralized exchanges represent only 0.66% of all crypto exchanges . A value that has nevertheless increased fivefold since January 2019.
DEX, a boon for investors
Unlike centralized exchange platforms, in the case of DEX, it is the users and suppliers of liquidity who benefit from the fees generated by the exchanges.
Thus, about $ 12 million was redistributed to the various DEX players during 2019, with Uniswap once again in the lead.
Although they don't currently have the same traction as centralized platforms, DEXs continue to integrate into the ecosystem by attracting a growing number of users. This data is on the right track to continue their ascent throughout 2020, thanks to the growing integration of decentralized exchanges with other platforms.