DEX Stats 2024: Everything You Should Know
PLUS: $147 million exits global crypto funds, $TRUMP is up 50% in the last 30 days
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In today's newsletter:
💡 DEX Stats 2024: Everything You Should Know
📣 Donald Trump is leading with 52% on Polymarket
📈 $147 million exits global crypto funds
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💡 Insight
DEX Stats 2024: Everything You Should Know
DEX Basics
Operating on smart contracts and decentralized networks, DEXs enable users to trade digital assets directly from their wallets without relying on a central authority to hold funds or execute trades. This peer-to-peer model not only enhances security by reducing the risk of hacks or thefts associated with centralized exchanges but also promotes privacy and autonomy, as users retain full control over their assets throughout the trading process.
One of the key features of DEXs is their ability to facilitate trustless transactions, meaning that participants can engage in trades without needing to trust a third party. This is achieved through the use of smart contracts, which automatically execute trades once predetermined conditions are met, ensuring fairness and transparency without the need for human intervention. Additionally, DEXs typically offer a wider range of token pairs compared to centralized exchanges, allowing users to access a broader selection of digital assets and trade them directly against each other.
As the crypto landscape continues to evolve, decentralized exchanges are expected to play an increasingly prominent role in the ecosystem.
DEX Market
According to Coingecko, about 370 decentralized crypto exchanges are currently in existence. The top ten DEXs account for more than 3/4 of the total DEX trading volume.
Ethereum share of EVM DEX volume is around 40%, while Uniswap accounts for almost half of total DEX Total Value Locked, making this protocol by far the largest DEX at the moment:
DEX Metrics
Over the past year, this sector has been growing from $10B to $18B in Total Value Locked (+80%) as shown in the graph below:
The growing adoption of DEXs is also reflected in their earnings.
The following chart from illustrates the daily fees generated by individual DEXs over the last 365 days:
Uniswap leads here as well, with almost $1 billion in generated fees.
Key Takeaways:
DEXes facilitate trustless transactions, meaning that participants can engage in trades without needing to trust a third party
Ethereum share of EVM DEX volume is around 40%
Uniswap accounts for almost half of total DEX Total Value Locked
DEX sector has been growing from $10B to $18B in Total Value Locked (+80%) over the last 365 days
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📣 Update
Donald Trump is leading with 52% on Polymarket
In the meantime, MAGA ($TRUMP) is up ~50% in the last 30 days:
📈 Signal
$147 million exits global crypto funds, ending three-week inflow streak
Global crypto investment products at asset managers such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares and 21Shares ended an almost $2 billion three-week net inflow streak, with $147 million exiting the funds last week, according to CoinShares.
“Higher than expected economic data last week, reducing the probabilities for significant rate cuts are the likely reason for the weaker sentiment amongst investors,” CoinShares Head of Research James Butterfill said in a Monday report.
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