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The number of collateralized assets on decentralized exchanges is nearing a peak of $ 10 billion, with Uniswap still at the top.
According to research by Messari, the volume and liquidity on decentralized exchanges skyrocketed in 2021, with collateral reaching a peak of $ 10 billion.
Researcher Rahul Rai noted that the DEX volume in February rose to a record 72 billion USD. Dappradar reports that Uniswap accounting for more than half of the total liquidity locked up in DEXs with TVLs of $ 5.4 billion.
Rai added that despite this success, automated market makers are facing many challenges:
Some inherent problems such as impermanent loss, capital efficiency, slippage, gas cost, speed and exposure to many tokens are holding them back.
According to Dune Analytics, Uniswap’s dominance of the DEX sector is growing, with the exchange having about $ 6.5 billion in weekly transactions or 62.2 percent of total industry transactions.
Uniswap’s rival, DEX SushiSwap which was launched at the end of August 2020 and has many big plans for 2021 is second in volume – with $ 1.6 billion in weekly transactions or 15.2% of total industry transactions.
Curve Finance is third in terms of market share with 6.2% when trading volume over the past 7 days was 647 million USD.
The sector’s total volume in March reached $ 44.3 billion – more than both October and November 2020 combined.
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