By January 4, 2023 (Investorideas.com Newswire) Between January 2020 and November 2022, ETH DEX volumes grew at a compound annual growth rate (CAGR) of 405%. That’s per a TradingPlatforms.com report showing those volumes rose sharply from $665,410,734 to $85,634,045,737 in that period.
According to TradingPlatforms’ investments lead, Edith Reads, “This surge in Ethereum trade volumes indicates the increasing popularity of decentralized exchanges and the growing demand for Ethereum-based assets. It suggests that despite market dips during periods of volatility, investors believe in the promise of ETH-based asset trading and are willing to capitalize on the opportunities available through these exchanges.”
One factor driving this trend has been the rise in decentralized finance (DeFi) protocols and applications that use Ethereum as their base layer. These include lending and borrowing platforms, yield farming protocols, and stablecoin projects. The full story and statistics can be found here: Ethereum DEX Volumes Grew at a CAGR of 405% In the Last Three Years
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