In a Tweet posted by user @cryptotutor Friday, a screenshot appears to show a 27% spread between stablecoin Magic Internet Money (MIM) and USD Coin (USDC) trading pair on decentralized exchange, or DEX, Uniswap (UNI). Both have a theoretical peg of 1:1 against the U.S. Dollar."Magic Internet Money," joked cryptotutor, as he attempted to swap approximately $1 million in MIM but … [Read more...] about Users flock to Curve amid lack of stablecoin liquidity on major DEXs
DEXs
Whales Dominate DEXs as High Ethereum Fees Keep Retail Investors at Bay
The average trade size on Curve Finance ranges from $500,000 to $1 million, while deals on other prominent DEXs like Uniswap V3, Uniswap V2, SushiSwap, and Balancer V1 average between $10,000 - $20,000. That’s nearly ten times larger than the average trade size of $2,000 - $4,000 seen on centralized exchanges (CEXs). Source link … [Read more...] about Whales Dominate DEXs as High Ethereum Fees Keep Retail Investors at Bay
DEXs like Uniswap, PancakeSwap, and Curve saw a 550% growth last year
A new Chainalysis report has revealed that decentralized exchanges (DEX) are currently outgrowing their centralized counterparts as their numbers have spiked massively within the last year.Decentralized exchanges outgrow centralized exchangesAccording to the Chainalysis report, DEXs such as Uniswap, Curve, and PancakeSwap saw a growth of about 550% between August 2020 to … [Read more...] about DEXs like Uniswap, PancakeSwap, and Curve saw a 550% growth last year
DEXs Have Grown the Most as Competition Among Crypto Exchanges Intensifies: Chainalysis
This finding, which the blockchain data firm published Tuesday, showed that as cryptocurrency exchange competition has intensified, the crypto market – especially large, sophisticated crypto traders – has favored exchanges with high innovation and scalability. Source link … [Read more...] about DEXs Have Grown the Most as Competition Among Crypto Exchanges Intensifies: Chainalysis
Ethereum, Binance Smart Chain DEXs are eating their centralized crypto counterparts
While most metrics hit new all-time highs mid-way through the quarter, when the broader crypto market turned, many decentralized finance (DeFi) protocols saw activity decrease.Despite being negatively impacted by depressed market sentiment and downfall in price, the DeFi sector, witnessing a lot of competitive action, grew and developed in multiple ways, according to Messari’s … [Read more...] about Ethereum, Binance Smart Chain DEXs are eating their centralized crypto counterparts