Tuesday, June 25, 2024

The Number Of Decentralized Exchanges Has Doubled Since 2019

The number of trading platforms in three years increased to 205. According to the analytical company Chainalysis, this is due to the growing popularity of the DeFi sphere

The number of decentralized cryptocurrency exchanges (DEXs) has doubled between 2019 and June this year, according to analyst firm Chainalysis .

Photo From chainalysis.com

Analysts say that in June 2021, the number of decentralized exchanges exceeded 205. Over the same period, the number of over-the-counter (OTC) markets increased by 50%, to 150.Since 2019, the number of derivatives exchanges has remained unchanged (125).

DEXs have become extremely popular, which coincides with the explosive growth of the DeFi category as a whole,” the Chainalysis report said.

Photo From chainalysis.com

On November 10, US Securities and Exchange Commission (SEC) Commissioner Caroline Crenshaw urged DeFi projects to collaborate.

Crenshaw claims that many DeFi projects are similar to products in the traditional financial market, but none of the services has yet been registered with the regulator. Because of this, users are left without protection for their savings, the SEC spokeswoman added.

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