According to the latest research by Diar, decentralized exchanges show record low trading volumes in terms of USD. Meanwhile, decentralized trading platforms see the number of transactions on Ethereum blockchain dropping to all times low as well.
While the number of on-chain ETH transactions is close to breaking new records, the trading volumes on decentralized exchanges (DEX) show the opposite trend.
Since June 2017 when DEX began appearing online, a total of $8.9 billion has been traded on-chain. Last year accounted for the most – just pipping over $7.1 billion.
However, this month, total DEX volumes have melted down to mere $49 million, which is less than a tenth of what the largest centralized exchange Binance trades, alone, on a daily basis.
The number of unique Ethereum addresses involved in DEX trading is also nearly minimal.
Meanwhile, the world’s largest crypto exchanges have been showing much interest in pursuing the DEX model. For instance, in March 2018, Binance announced the launch of its own public blockchain designed to serve as a basis for decentralized trading platform Binance Chain.