Altcoin News: Trading Volume on Decentralized Exchanges Has Grown More Than 3 Times Since the Beginning of the Year

August 2, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

According to a study conducted by analysts at Totle, in the first half of this year, activity on decentralized cryptocurrency exchanges increased sharply.

The surge in transactions at such sites was recorded from May to June when the maximum daily volume of transactions reached $24 million. If in January the users of decentralized exchanges made transactions for $86 million, then in June this figure exceeded $300 million. At the beginning of the year, approximately 240,000 operations were performed on decentralized sites, and already 426,000 at the beginning of the summer.

Image credit: Totle

Totle analysts pointed out that this positive trend may be associated with the launch of the new financial services Edge Wallet, bZx and MakerDAO, which enable decentralized platforms to increase liquidity. The researchers also noticed that almost 75% of the total trading volume on decentralized exchanges are transactions that do not require users to undergo the KYC procedure.

Author: Marko Vidrih