Decentralized Exchange Volumes Up 70% in June, Pass $1.5B
June trading volume on decentralized exchanges set a record high of $1.52 billion, up 70% from May.
Chainlink's link token has surged past bitcoin, becoming the most traded cryptocurrency of the past 24 hours on Coinbase Pro.
The ratio of low exchange volume to high on-chain transaction volume frequently corresponds with increased volatility.
CryptoCompare's latest report shows crypto derivative volumes were up 54% in August – likely a result of the rally in bitcoin's price.
The Shiba Inu meme-based cryptocurrency’s price climbed 35% as TikTok users encourage each other to invest.
Crypto exchange volumes could continue falling should volatility remain at these low levels, said CryptoCompare CEO Charles Hayter.