Ethereum based decentralized exchanges and defi dapps are now handling $400 million in trading volumes a day.
That is significantly more than just three weeks ago when it was at about $100 million, growing week on week at 23%.
In addition some $2 billion has been traded on ethereum dapps within just a week, more than all of last month and twice more than in June.
Ethereum defi and dexes stats, Aug 2020
Uniswap in particular has seen a huge jump from about $60 million to now near $220 million.
While Curve has risen to handle as much as Uniswap last month, with this dapp being more arbitraging and market making instead of an exchange between different categories of assets.
Fairly impressively, Uniswap has handled $1 billion in the past week, accounting for half of all volumes.
Thats more than what some prominent centralized exchanges handle, with all Uniswap trades being on-chain.
Therefore they cant be faked without paying a high cost especially currently with the ethereum network at full capacity.
They apparently have plans to incorporate some smart contract level scaling to facilitate more and cheaper transactions, but thats a fairly complicated endeavor and thus might take some time.
Dexes and Defi ranking by trades, August 2020
Uniswap as you might know is a broker where you can buy say 1000 eth at a fixed price.
While IDEX is a traditional exchange that ranks first for the number of traders, that presumably being measured by how many different addresses are used.
Kyber is a broker as well, but Uniswap is handling far more volumes because it has a far bigger collection of assets in as far as anyone can list their token on the dapp.
Therefore it might have fewer traders but those traders make more trades, giving it far bigger volumes.
All of these dapps however dont seem to have many users in part because theres just no space to accommodate ma ...