DeFi market will evolve this year
The total capitalization of the decentralized finance market exceeds $ 24 billion
DeFi trading volume $ 33 billion per day
International consortium of news organizations developing transparency standards.
Decentralized finance has become one of the main trends in 2020. Experts expect even greater penetration of DeFi this year Decentralized finance (DeFi) is financial services built on blockchain technology that offer users access to an open, efficient and … More retail and institutional investors and users.
Decentralized exchanges Cryptocurrencies continue to march across the planet, becoming increasingly mainstream and finding new areas of use. People buy bitcoin, … More (DEX) is essential for the decentralized finance (DeFi) sector. They allow traders to exchange a single token As the use of cryptocurrencies grows, new types of tokens appear. They can represent value or something intangible like voices. Two … More for another and exchange cryptocurrency for fiat, while maintaining anonymity and taking advantage of other advantages of decentralization.
Decentralized exchanges are peer-to-peer platforms for trading cryptocurrencies. DEXs differ in the set of services they offer, the protocols they run on, the type of blockchains they support and how they look, and functionality. Xangle has assessed the liquidity of existing DEXs and selected the most promising decentralized exchanges to look out for in 2021.
Uniswap is a fully decentralized protocol for exchanging ERC-20 tokens / The platform was launched in November 2018, but gained popularity only in 2020, overtaking even Coinbase in terms of trading volume.
The main payment and investment asset of the site is the UNI token. Experts predicted further growth of the exchange and already called it the undisputed leader in the crypto market, but at the end of the year, the site began to rapidly lose liquidity. At the beginning of November 2020, the exchange lost 40% of its liquidity, and by the end of the month this indicator dropped to 60%.
At the moment, Uniswap remains the leader in the DeFi market with a volume of blocked funds of about $ 3 billion, and the daily trading volume exceeds $ 728 million..
DeFi Pulse Resource Data
Curve ranks second in the ranking of the most promising decentralized crypto exchanges in terms of liquidity. The volume of blocked funds is $ 2.32 billion, and the daily trading volume is approaching $ 60 billion.
In addition to DeFi tokens, stablecoin trading is organized on the site, which attracts users who want to be confident in the reliability and stability of digital coin prices. The main disadvantage for clients is the outdated interface of the site, which should be replaced. However, this does not prevent the exchange from remaining in the top three.
Coinmarketcap resource data
1inch Exchange combines liquidity from other decentralized exchanges. The goal of the project is to reduce slippage and provide a better exchange by allowing users to access liquidity from multiple DEXs through a single platform in real time..
The 1inch token, launched at the end of December 2020, has risen sharply by 1200%, and the daily trading volume of the token has exceeded $ 106 million. At the time of writing, the 24-hour trading volume exceeds $ 107 million.
Coinmarketcap resource data
Fork In the cryptocurrency world, a fork is essentially a change in the blockchain protocol. Since cryptocurrencies operate in decentralized networks, all parties to … More of the SushiSwap decentralized cryptocurrency exchange protocol have been called the “Uniswap killer”. Immediately after the launch of the site, liquidity from the Uniswap exchange began to flow to Sushiswap. Despite the growing popularity, Sushiswap could not compete with the “parent” and took the honorable second place in terms of trading per day with an indicator of $ 238 million.
As for the blocked funds, at the time of this writing, this figure is $ 1.95 billion.
TOP 5 BITCOIN DECENTRALIZED EXCHANGES (DEX) IN 2020
DeFi Pulse Data
Balancer is a decentralized exchange that directly attracts those looking to earn interest by providing liquidity to the Balancer exchange pool. The platform also offers traders the ability to automatically balance their portfolio to reduce price risk using the Balancer Pool Automatic Market Maker (AMM) protocol..
Holders of the BAL project token are involved in making decisions on the distribution of rewards, the formation of pools and the mining of liquidity. In addition, Balancer offers the functionality of a decentralized exchange where you can quickly exchange ERC20 tokens..
At the moment, the volume of blocked funds is $ 814.3 million, and the daily trading volume exceeds $ 26 million.
Coinmarketcap resource data
Check out the best DeFi projects in the new season here.
5 Best Crypto Exchanges to Buy Bitcoin in 2021
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