Competition continues to heat up among decentralized exchanges. More competition is beneficial, as it will ultimately yield far better user experiences. The following platforms may not be as well-known, but they can offer something valuable to the right user.
Although only launched fairly recently, the JustSwap platform is noting some interesting volume. It is ranked ahead of platforms such as Aave, 1Inch, Balancer, and 0x Protocol. This platform is primarily designed to facilitate the trading with TRON-based assets. Its top volume generator is Pearl Finance, but other tokens are all contributing value as well. One of them appears to be the stablecoin, which could either be USDT or USDJ. An interesting addition to the list, as 622 trading pairs can be explored as of right now.
Generating ample trading volume will be a challenge for a lot of decentralized exchanges. Not entirely surprising, as the industry is still in the very early stages. Tokenlon is looking to make its market, although its offerings remain a bit limited. With over $20 million in daily trading volume, and USDT/ETH being the main trading market, it is a platform of interest to the right people. Most of its listings pertain to stablecoins, although there is also “The Tokenized Bitcoin” to explore.
Primarily used for spot cryptocurrency trading, ViteX is not making too much of an impact just yet. It has just $1.6 million in trading volume, making one wonder if there is room for future growth. Two of the three main trading pair pertain to the native VX token as well, which is rather interesting. It is not for a lack of trading pairs, as over five dozen pairs can be explored for trading. Most of them are unknown tokens and assets, however.
Another new decentralized exchange on the list is Newdex. It has a lot more trading pairs and coins compared to ViteX, but its trading volume is just $1.06 million per day. In terms of listed tokens, it has a lot more offerings that very few people will have heard of. The Organix/EOS market is the most popular one right now, followed by EFX/EOX and its native Newdex Token.
As the name suggests, TronTrade is another decentralized platform designed to bring liquidity to TRX and TRON-based projects. Clever is currently the top trading market with nearly 54% of the volume. Compared to JustSwap, TronTrade notes far less volume, however, It will be interesting to see how both projects shape up against one another over the coming months.