Crypto enthusiasts appear to be investigating decentralised possibilities as centralised crypto exchanges struggle with regulations.
A staggering 444% increase in median trading volumes on top decentralised exchanges (DEX) in the previous two days can be attributed to the legal issues that cryptocurrency exchanges Binance and Coinbase are having with the US Securities and Exchange Commission.
From June 5 to June 7, daily trade volumes on Uniswap V3 (Ethereum), Uniswap V3 (Arbitrum), and Pancakeswap V3 (BSC) increased significantly and exceeded $792 million. 53% of the total 24-hour DEX trading volume is conducted on these platforms.
Curve saw a rise as well, with volumes rising by 328%. Trading US dollar-pegged stablecoins, mainly USD Coin, constituted the majority of activity on Curve.