Decentralized Exchanges Growing Fastest Among Crypto Exchanges, Says Chainalysis

2021-11-13 17:20

In the explosion of growth among cryptocurrency exchanges, decentralized exchanges (DEXs) have grown the fastest, according to a report from Chainalysis.

In the analysis, exchanges are separated into six different categories based on their business models and technical infrastructure. These include DEXs, centralized exchanges (CEXs), over-the-counter (OTC) brokers, derivatives platforms and high-risk exchanges with minimal know your customer (KYC) requirements.

According to the data, the number of active DEXs and OTC brokers has grown the most since 2019, while derivatives exchanges have grown modestly. Meanwhile, numbers for CEXs and higher-risk exchanges have dipped slightly following initial increases. 

Exchange data

Since the first quarter of 2019 the number of DEXs has increased more than 100% to approximately 205, as of June. In that period the amount of OTC brokers also increased significantly, gaining around 50% to 150 by Q3 2021. After rising to around 125 in 2019, the number of derivatives exchanges have remained there since then.

Alternatively, during that same period, the number of CEXs temporarily increased from around 100 to 120, before dipping back to roughly 100. Meanwhile, high-risk exchanges broke out during the middle of 2020 to around 150, but then sharply dropped to below 100 by Q3 2021.

Size matters

The analysis also broke down each of these categories by size, as either being large or small based on a $10 million threshold. It also distinguished between crypto-to-crypto (C2C) exchanges or crypto-to-fiat (C2F) exchanges. Here too large DEXs come out on top, with other large exchanges, high-risk included, having grown the most. The report details that numbers tripled for all three categories. 

Finally, the report also considered growth in terms of received value. During the time period studied, transaction volume rose the most for large DEXs, CEXs and OTC brokers. The report also notes that “derivatives exchanges grew the most by far in value received at 686%.” However, nearly all small exchange categories saw a decrease in their cryptocurrency received.

“The biggest takeaway here is that DEXes have become extremely popular, which coincides with the explosive growth of the DeFi category in general,” the report concludes.

What do you think about this subject? Write to us and tell us!

The post Decentralized Exchanges Growing Fastest Among Crypto Exchanges, Says Chainalysis appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Decentralized Machine Learning (DML) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0009581 (-100%)

exchanges among decentralized chainalysis fastest says growing

exchanges among → Результатов: 126


Bitget CEO Sandra: Decentralized Derivatives Exchanges are not Likely to Disrupt Their Centralized Counterparts in the Short to Medium Term

— By Bitget CEO Sandra Derivatives products have been playing a significant role in the global finance market. As the concept of decentralization experienced rapid development and gradually gained wider recognition among users in recent years, decentralized derivatives trading has naturally become one of the most promising markets.

2021-8-18 16:10


Фото:

Data Shows Ether (ETH) Supply on Centralized Exchanges at a 3 Year Low

Data from cryptocurrency intelligence firm OKLink indicates that ether (ETH) supply on centralized exchanges is at a 3-year low. Ether’s Scarce Supply Among CEXs Ether (ETH), the cryptocurrency powering the vast majority of the rapidly developing digital assets space has hit a 3-year low supply at all centralized exchanges, data from OKLink shows. Notably, aRead More

2021-8-10 17:00


Фото:

Korean Exchanges Delisting Altcoins as Banking Contracts Renewal Looms

In preparation for the go-live of the new crypto exchange law scheduled to take effect in September 2021, South Korean exchanges are actively delisting obscure altcoins from their platforms, as the crypto-supporting lenders including NH Nonghyup Bank, and Shinhan Bank, among others, is now reviewing the operations of these exchanges to ensure they are fullyRead More

2021-6-22 11:00


PrimeXBT Covesting Review [2021] | Fees, Withdrawals, Minimum Deposit

PrimeXBT came into the crypto markets with aggressive adverts and appealing features – it was a platform with a mission to take on the leader among crypto margin exchanges – BitMex. They tried luring new customers with incredibly high leverages (100x) and more recently, by entering a partnership with Covesting, a cryptocurrency social trading platform […] The post PrimeXBT Covesting Review [2021] | Fees, Withdrawals, Minimum Deposit appeared first on CaptainAltcoin.

2021-3-3 17:09


Komodo’s AtomicDEX proves success as a scalability solution with stress test complete

CryptoNinjas » Komodo’s AtomicDEX proves success as a scalability solution with stress test complete Komodo, an open source technology workshop and blockchain solutions provider, has successfully put AtomicDEX through its most stringent stress test to date to prove its ability to solve the issues of scalability in decentralized peer-to-peer non-custodial transactions among cryptocurrency exchanges.

2021-2-27 23:11


What Are the Main DeFi Use Cases?

Key Takeaways: – Decentralized finance (DeFi) has witnessed staggering growth in 2020.– There is now more than $11 billion locked in Ethereum DeFi platforms and more than 100,000 users. – Open lending platforms, decentralized exchanges, and digital asset staking are among the most common use-cases, but new tools and platforms are emerging regularly.– Though many DeFi […]

2020-10-17 19:10


Фото:

Cryptocurrency News Roundup for Sept 3, 2020

The Bitcoin price dropped more than $400 early on Thursday, 3 Sep, triggering alarm among the bulls who were already struggling against a two-day sell-off. The steep drop was somewhat expected, though, considering that there was an inflow of more than 90,000 BTC from whales to some of the largest crypto exchanges just a day […] The post Cryptocurrency News Roundup for Sept 3, 2020 appeared first on BeInCrypto.

2020-9-4 00:00