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23 October 2020

Foresight or folly? Data show 70% of exchanges are unmoved by DeFi volume

Foresight or folly? Data show 70% of exchanges are unmoved by DeFi volume


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A recent survey by cryptocurrency data aggregator, CryptoCompare, shows that centralized exchange operators do not see the emergence of decentralized trading venues like Uniswap as a threat despite growing volume and activity in the DeFi space. .

In its September exchange review, CryptoCompare asked 26 of the leading venues in the space how likely it was for DEX liquidity to overtake that of centralized exchanges in a 2-year time span.

70% of those interviewed said that decentralized exchanges will not overtake centralized exchange volume due to their lack of liquidity.

Although data from Cointelegraph and Digital Assets Data show that the number of active users on decentralized exchanges has been in a steady decline since September, the total value locked in DeFi platforms continues to rise. 

It’s also worth noting that in September Uniswap trading volumes eclipsed that of leading centralized exchanges like Coinbase on multiple occasions

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cointelegraph.com
Market data feeds provided by cryptocompare.com
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