Reseach reveals increased confidence in decentralized exchanges
By OAX Foundation on August 7, 2019
A recent report has shown how decentralized exchanges are growing in popularity reflecting increased confidence in the system. Research commissioned by Totle, a firm specializing in decentralized liquidity, has revealed that monthly trading volume in USD on decentralized exchanges tripled from January to June, from around USD 86m to USD 300m.
What’s interesting is that the overall number of transactions, while increasing, didn’t grow as fast — rising from 240,000 in January to around 426,000 in June. This indicates that DEX users are prepared to place larger orders — or in other words, to stake more money at a time. It’s a real vote of confidence and a sign that efforts across the industry are paying off and DEX are starting to mature.
This is great news for us at OAX Foundation, and a sign that — step by step — digital asset trading is moving to the mainstream.
Of course the numbers involved are miniscule compared to those seen in traditional financial services, or indeed on digital asset exchanges running on a centralized model, and we’ve obviously got a long way to go. But what’s encouraging is that we’re seeing the positive impact of the ecosystem of services that’s been built up around DEX. Providing investors access to the suite of services they need to trade safely and securely is critical in building public confidence in DEX.
This is why we’ve partnered with a whole range of organisations, ranging from compliance providers to trade surveillance experts, to help build and promote this network effect. Solidus Labs, KYC Chain and Blockpass are just a few of the firms that share our vision for digital asset trading and who are working with us to bring it to a reality.
Challenges remain, but with confidence rising and volumes growing, we’re certain that the future is bright. Our own work is helping solve some of the most significant challenges holding back digital assets and blockchain today, and with the help of our partners we look forward to driving even faster growth — to the benefit of all the community.
#OAX #DEX #Decentralized #Blockchain #Ecosystem #Transparent
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