Deep Tide TechFlow News, on November 20, according to Ledger Insights, the latest research report from the Bank for International Settlements (BIS) shows that the DEX market has exhibited a clear trend towards specialization. Although retail investors account for 93% of the total number of liquidity providers (LP), a small number of institutional participants provide 65-85% of market liquidity. The daily net yield of these mature participants is 3 basis points higher than that of retail investors, with an annualized yield difference of 11.65%.
Data shows that the average position of retail investors is $29,000, while that of professional investors reaches $3.7 million. The report focuses on analyzing Uniswap V3, finding that its launch has accelerated the market's specialization process, with the proportion of mature LPs rising from 40-50% in the early stages to 70-80% by the end of 2023. Professional investors tend to participate in large liquidity pools with daily trading volumes exceeding $10 million, while retail investors are mainly active in small pools with daily trading volumes below $100,000.