DecentralizedDeFiExchanges

Trading volume on decentralized exchanges reaches $ 4.3 billion in July

The Decentralized Finance (DeFi) industry continues to explode and set new records – trading volumes on Decentralized Exchanges (DEX) totaled over $ 4.3 billion in July.

The previous record was set in June. Then, users of decentralized platforms made transactions worth $ 1.5 billion. Thus, the growth in trading volume on DEX for the month amounted to 174%.

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The Uniswap platform became the leader in terms of trading volume, which occupied 41% of the market. The Curve platform is also popular, the volume of transactions on which amounted to 24% of the total. Interestingly, a noticeable increase in activity on Curve began in May, and until January of this year it was practically unknown.

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Analysts note that the growth of the ETH exchange rate also had an impact on the trading volumes on decentralized platforms , because the vast majority of DEX work on Ethereum. However, this does not negate the fact of the growing popularity of the industry – recently the total amount of blocked funds in DeFi applications reached $ 3 billion, and in less than a week it exceeded $ 4 billion.

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