According to the Dune Analytics research team, DEX activity skyrocketed in June 2020. Comparing this to May 2020, we see 70% growth with a remarkable volume of $ 1.5 billion. The accumulated volume for May 2020 was $ 894.2 million.
This is the second time that decentralized market volume has soared more than $ 1 billion. In March 2020, the volume was $ 1.05 billion, this shows that June was 43% more successful than that of March. The June 2020 results are great compared to the previous year.
DEX Massive Volume Trading Peak
Leading the trends that are soaring are Uniswap and Curve. In June, Curve attracted $ 340.4 million, which is a surprising growth compared to $ 38 million shown throughout May 2020. Uniswap also has notable previous statistics. During the first quarter of 2020, Uniswap traders exchanged 225% more funds than in the first quarter of 2019. The only bad news was the $ 10 million liquidity outflow in April. But what is even more intriguing: Both platforms generate 55% of the total DEX volume by June 2020.
Centralized exchanges still have much more money from merchants than decentralized exchanges.
What decentralized exchanges mean for the cryptocurrency industry
The main focus of any DEX exchange is that it does not contain the user's private keys. DEX only gives merchants a special blockchain for coin transactions and storage. But the keys to those coins never leave the client's control, which increases the level of security.
Some DEXs have dual blockchain, others allow users to support the network only by themselves. Decentralized software enables new forms of exchange to be created and tested as the history of cryptocurrencies unfolds. If the user interacts with the exchange of that type, it supports the ideology of shared effort born from the early days of Bitcoin.