Research Summary
The report focuses on the current state of decentralized exchanges (DEXs) in the crypto market. It highlights the shift in DEX trading volume from Ethereum to other chains like Arbitrum, which has grown from facilitating 3.3% to 23.3% of the total DEX trading volume. The report also discusses the successful expansion of Uniswap and Trader Joe to other chains, contributing to their growth in daily active users. Meanwhile, PancakeSwap struggles to gain momentum on Ethereum. The report further analyzes the performance of various DEXs based on growth in trading volumes over the past 180 days, with Trader Joe, Quickswap, KyberSwap, and ParaSwap emerging as the best-performing projects.
Actionable Insights
- DEX trading volume is shifting: There is a significant shift in DEX trading volume from Ethereum to other chains like Arbitrum. This trend should be considered when planning expansion or investment strategies.
- Successful expansion of DEXs: Uniswap and Trader Joe have successfully expanded outside of their original chains, contributing to their growth in daily active users. This suggests that expansion to growing chains can be a successful strategy for DEXs.
- Performance of DEXs: Trader Joe, Quickswap, KyberSwap, and ParaSwap have shown significant growth in trading volumes over the past 180 days. These platforms could be potential investment opportunities.
