In early March, users of decentralized crypto exchanges (DEX) became more active.
April saw another such spike in activity, resulting in the highest trading volumes in the DeFi decentralized finance market since May 2022.
Traders began to move to DEX-platforms after US regulators took over the largest centralized exchanges – Kraken, Coinbase and Binance.
According to the DeFiLlama service, the amount of transactions on DEX platforms reached $133.1 billion in monthly terms.
Circle’s troubles, which resulted in its stablecoin USDC temporarily depegged to the dollar, also contributed to the reallocation of capital in favor of DeFi tokens.
According to Kaiko analysts, if the pressure on centralized crypto exchanges from supervisory authorities intensifies, then DEX sites will be able to increase trading volumes in the coming months.
