Many market observers expected a surge in the use of decentralized exchanges following the collapse of FTX, but a Kaiko report showed Coinbase’s trading volume has surpassed the popular DEX platform Uniswap’s this year so far. _jocelynyang_ reports
Cryptocurrency exchange Coinbase’s trading volume has surpassed the popular decentralized exchange platform Uniswap’s this year, according to a report from crypto data firm Kaiko.
, and at one point in 2022 that shift seemed to be occurring. But DEXs have presented challenges for users.that November trading volumes on decentralized platforms surged to $113 billion, their highest monthly level since May, but they now seem unlikely to surpass $100 million this month, based on daily volumes.
Lucas Outumuro, head of research at blockchain analytics firm IntoTheBlock, said the initial spike in demand for noncustodial trading and decentralized finance at large after the meltdown of FTX has “waned out.” Outumuro highlighted that the daily number of new Ethereum addresses along with trading volume remained small on DeFi exchanges.
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