If you look at the current developments, the future will be shaped more and more decentrally. Not only DeFi (decentralized finance) is enjoying increasing popularity, but also decentralized stock exchanges. Like the crypto company Messari.io Now found out, the tokens of the decentralized exchanges develop considerably better than those of the centralized competition.
DEX token: average price increase of 244%
Centralized exchanges (CEX for short) such as Coinbase and Binance give users the feeling of security and simplify the storage of their cryptocurrencies. But the key point of Bitcoin and blockchain is decentralization. Because exchanges with a central control do not strictly match the original ideals of the blockchain.
That's why more and more investors prefer decentralized exchanges (DEX for short) for trading cryptocurrencies. And this is also reflected in the price development of the respective DEXs. Kyber Network KNC's token grew the most, growing more than 400%.
- $ KNC: 420% - the token from Kyber Network
- $ LRC: 331% - the Loopring Exchange token
- $ ASTOR: 205% - Airswap's token
- $ BNT: 180% - the Bancor token
- $ IDEX: 113% - the IDEX token
- $ ZRX: 97% - the token of 0x
For comparison: the in-house token of Binance BNB recorded a growth of a little less than 25% this year, KCS from KuCoin even only increased just over 4%. The average growth is five times higher than that of the competition, i.e. of centralized exchanges. While the tokens of the decentralized exchange rose by an average of 241%, those of the centralized exchanges recorded a growth of 44%. The six CEXs and DEXs with the highest trading volume were used to calculate the data:
DeFi applications are also growing continuously
But not only decentralized exchanges are becoming increasingly popular, but also decentralized applications for the financial sector that want to revolutionize the financial system. There are now 556 DeFi tokens on the market. It is no longer a well kept secret that DeFi will play a major role in the next few years.
And the increase in projects for decentralized finance and DeFi market capitalization is faster than expected. While market capitalization for DeFi tokens reached $ 2,160,379,667 billion in mid-April, that figure doubled in less than two months and is currently at $ 0. The clear leader is cryptocurrency maker (MKR), followed by 10x and Kyber Network Crystal. You can see the top XNUMX in the following graphic:
Markus from Kryptokumpel.de
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