Trading volume on the largest DeFi-platforms increased by 180% in two days
The trading volume on the three largest DeFi-exchanges increased by 180% in two days
The aggregate daily turnover of trading on the top three decentralized exchanges increased by $950 million in 48 hours
The average daily trading volume on the three largest decentralized exchanges (DEX) jumped 180% over the past 48 hours, according to CoinGecko. Trader activity on centralized exchanges (CEX) has also increased.
DEX platforms are one of the most popular segments of decentralized finance (DeFi). These are protocols for exchanging and trading crypto-assets based on smart contracts without an intermediary in the form of an exchange. Trading participants remain relatively anonymous, using their cryptocurrency wallets for authorization.
DEX can be deployed on multiple blockchains, allowing users to choose the ecosystem that best suits their needs and requirements. For example, the Uniswap project supports several networks - Ethereum, Arbitrum One, Polygon, Optimism, and others.
Trading volume on Uniswap v3 (Ethereum) grew from $322 million to $999 million, on Uniswap v3 (Arbitrum One) from $152 million to $322 million, and on Curve (Ethereum) from $54 million to $157 million. These three exchanges account for 55.6% of the total DEX trading volume in the last 24 hours. Over the course of the two days, their total trading volume increased from $528 million to $1.47 billion (180%) - an increase of $950 million.
At the same time, trading volumes on 12 large centralized exchanges also remained at their highest levels for the last month. As of the morning of June 6, it reached $105 billion (the highest since April 28) and on the morning of June 7, it was $97 billion, according to Coinglass. During the last month, volumes have only twice reached $100 billion, averaging in the range of $30 billion to $80 billion.
The surge in exchange activity comes as the U.S. exchange regulator has begun litigation against leading cryptocurrency exchanges.
Exchange rates reacted with a sharp drop, but by June 7, they had recovered to the levels they were at before the SEC lawsuit reports. As of 16:40 Moscow time, bitcoin is trading at $26.8 thousand, up 5.1% over the day.
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