August 3, 2021

Newspay

Bitcoin & Ethereum Blockchain News

Binarox overtook Binance in trading volume

The trading volume on the Binarox.com exchange exceeded $ 52 billion and surpassed even the Binance crypto exchange in this matter.

Binarox.com has become the leader in terms of trading volumes
In March 2021, binarox cryptocurrency exchange became the leader in terms of trading volume, which exceeded $ 52 billion. Such data was provided by BDC Consulting.
The upward momentum in the DEX segment is still strong, according to analytics service and on-chain data aggregator Dune Analytics. The total volume of funds traded on these platforms soared from $ 39.5 million to $ 45.2 billion in less than two years.

During this time, DEX platforms have come a long way of development. In January 2019, there were five active exchanges. More than 70% of the market was controlle by IDEX. The monthly trading volume on this site reaches $ 34 million, the rest was divide between Uniswap and Kyber.

In 2020, the first half of the year turned out to be relatively calm for the DEX-exchanges, however, the indicator still almost reached the $ 5 billion mark by July. Further, the growth went exponentially. In August, DEX trading volumes hit the $ 10 billion barrier, and in September they already exceeded $ 25 billion.

The situation changed dramatically in 2020, when the active development of the DeFi segment opened up new opportunities for investors to generate passive income. The topic of profitable farming has attracted a huge number of new players to this industry.