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DEXs come to the rescue after China bans crypto By Cointelegraph


These major developments have shaken the crypto market as well as the global financial markets over the past months. China’s Evergrande debt repayment crisis sent shockwaves throughout global equities markets, as well as the United States Securities and Exchange Commission’s (SEC’s) Consistent signaling for upcoming regulationSentiment within the market remained strong for decentralized finance (DeFi), stablecoins, as well as Decentralized Financing (DeFi).

Although the Evergrande issue has been resolved, government restrictions on unstablecoin and unregulated DeFi platforms continue. As traders seek non-centralized places to exchange with, this has led to increased volume of cross-chain enabled layer-one protocols as well as layer-two solutions.

Volume for the DEX each month. Source: Dune Analytics
trading volume vs. total revenue. Source: Token Terminal
Source: Token Terminal. Source: Token Terminal
Pricing vs. Protocol Revenue Source: Token Terminal
Total value locked on dYdX vs. trading volume. Source: Token Terminal