The way people look at exchanging crypto assets is undergoing significant changes. Ethereum-based DEXes are currently noting significant growth is volume, primarily due to the various stablecoins making their mark on the industry.
More competition among trading platforms is always beneficial in this industry.
DEXes Continue to Increase Trading Volume
It will take a long while until DEXes can come close to some of the top centralized exchanges, however.
As progress is being made already, the landscape certainly begins to look rather interesting.
Over the past 14 days, Kyber, Uniswap, and OasisDex all noted very strong trading volumes.
For IDEX, RadarRelay, and every other offering, there is still ample work to be done.
Even at current prices, Kyber and Uniswap process well over $66 million in daily volume.
While that may not seem impressive compared to companies handling billions of dollars, it marks an interesting paradigm shift.
Crypto enthusiasts continue to show an interesting in trading assets and pairs they prefer.
Moreover, once DEXes become non-custodial by default – as not all of them are – interesting things are bound to happen in the near future.
Making this growth even more remarkable is the volume stablecoins continue to bring to market.
Dai is well ahead of the competition, but USDC is showing signs of life as well.