Trading volume in the DeFi market soared by over 400%

Last week, the US Securities and Exchange Commission (SEC) initiated lawsuits against the leading Bitcoin exchanges Coinbase and Binance.

Traders began to leave these trading platforms en masse and move funds to the DeFi decentralized finance market.

In the second half of last week, trading volume on the main decentralized platforms Uniswap v3 and PancakeSwap v3 surged. These exchanges handle about 53% of the transactions in the DeFi market.

According to CoinGecko, the average daily amount of transactions with digital assets on decentralized platforms has skyrocketed by 444% to $790 million. On June 6-7, the highest user activity of the DeFi market was recorded.

On Curve, trading jumped 328%. The stablecoins USDT and USDC were the most popular on this exchange.

In parallel, the outflow of funds from Binance increased. Nansen found out that last week investors preferred to withdraw tokens placed on Ethereum from exchange addresses.

The value of digital assets locked in decentralized finance protocols fell to $43.35 billion on June 11. In mid-April, it exceeded $52 billion, according to data from the DeFiLlama service.