Skip to main content

Non-Custodial Dex Platforms Continue to Expand — Curve, Pancakeswap, Sushiswap, Uniswap Lead the Pack

Five years ago, there was a large quantity of digital currencies and blockchains, but there were very few trading platforms that dealt with decentralized exchange. Since the boom of decentralized finance (defi), there’s now a myriad of decentralized exchange (dex) platforms that allow people to swap funds in a private, non-custodial manner. These days the biggest dex applications are catering to a variety of blockchain networks via cross-chain technology.

Curve’s TVL Nears $20 Billion, Curve DAO Token Jumps 82%, Pancakeswap and Sushiswap Follow With TVLs Over $10 Billion

Defi has exploded in popularity during the last 12 months and there are numerous applications and platforms tending to the needs of traders and liquidity providers. Currently, there’s $245.1 billion in total value locked in defi platforms today across blockchains like Ethereum, Solana, Avalanche, Polygon, Binance Smart Chain, and more.

Data from defillama.com indicates that the lending system Aave has the largest dominance metric today with 7.95% of the $245 billion, or $19.46 billion TVL. Aave is compatible with Ethereum, Polygon, and Avalanche and the TVL has increased 18.13% during the last seven days.

In terms of dex TVL rankings, Curve is the number one contender with $18.21 billion and compatibility with seven different blockchains. The Binance Smart Chain (BSC) dex application, Pancakeswap, has the second-largest TVL with $5.77 billion across only one chain.

The Curve dex cryptocurrency, otherwise known as curve DAO token (CRV), has increased in value 82.4% during the last week. Cake, the native currency for the Pancakeswap dex, is only up 0.7% this past week. Sushiswap is just below the BSC dex with a $5.6 billion total value locked across 13 unique blockchains. Sushiswap’s native asset, SUSHI, has gained 3.0% during the last seven days.

Uniswap, which leverages the Ethereum blockchain, has a TVL of around $5.26 billion, up 8% during the last week. UNI has gained 4.7% this past week and Uniswap version 3 is the sixth-largest dex in terms of total value held.

Uniswap’s Weekly Volume Close to $10 Billion, Dex Aggregators Capture 26% of Trades, Non-Ethereum Dex Platform TVLs Rise

Between Uniswap, Sushiswap, Curve, and 0x Native, the dex application Uniswap commands the most trade volume with $9.3 billion during the last seven days. Uniswap captures 68.2% of the volume across 14 different Ethereum-based dex platforms.

Meanwhile, Sushiswap has seen $2.2 billion in volume this week and Curve has seen $667 million. Dex aggregator platforms like 1inch and 0x API have around 26% of the trade volume. 1inch has seen $2.1 billion in weekly trades and 0x API $1.2 billion.

In terms of TVL, top dex applications from other blockchains besides BSC and ETH include Avalanche’s Trader Joe, Solana’s Saber, Raydium, and Serum, and Tron’s Justswap (JST) application. The Avalanche (AVAX)-based Trader Joe dex has increased its TVL by 33.11% this week and the Solana (SOL)-based Serum’s TVL jumped 20.74%.

What do you think about the dex volumes and total value locked in these defi applications? Let us know what you think about this subject in the comments section below.



from Bitcoin News https://ift.tt/3nsnb6V
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more