{"id":320067,"date":"2023-06-13T05:00:03","date_gmt":"2023-06-12T23:30:03","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=320067"},"modified":"2023-06-12T21:51:53","modified_gmt":"2023-06-12T16:21:53","slug":"defi-over-cefi-rising-interest-in-uniswap-and-dydx-state-that","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/defi-over-cefi-rising-interest-in-uniswap-and-dydx-state-that\/","title":{"rendered":"Defi over CeFi? Rising interest in Uniswap and dydx state that&#8230;"},"content":{"rendered":"<ul>\n<li><em>Decentralized exchanges and derivatives markets like Uniswap and dydx experience a surge in trading volume and fees.<\/em><\/li>\n<li><em>However, the tokens of both these protocols do not see much growth. Whale interest and price witness a decline.<\/em><\/li>\n<\/ul>\n<p>The crypto community\u2019s trust in centralized exchanges has slowly been declining over the last few months. The decline in interest in these CEX\u2019s was kickstarted by the fall of <a href=\"http:\/\/ambcrypto.com\/ftx-why-sbfs-case-may-not-be-dismissed-soon\/\" target=\"_blank\" rel=\"noopener\">FTX<\/a> and has been exaggerated by SEC\u2019s <a href=\"http:\/\/ambcrypto.com\/breaking-us-sec-sues-the-worlds-largest-crypto-exchange-binance\/\" target=\"_blank\" rel=\"noopener\">lawsuit<\/a> against Coinbase and Binance.<\/p>\n<p>Due to this, many users have been moving to decentralized solutions for their needs.<\/p>\n<hr \/>\n<p style=\"text-align: center;\">Is your portfolio green? Check out the<a href=\"http:\/\/ambcrypto.com\/calculator\/dydx-profit-calculator\" target=\"_blank\" rel=\"noopener\"> dydx Profit Calculator<\/a><\/p>\n<hr \/>\n<h3>Is the future decentralized?<\/h3>\n<p>Token Terminal&#8217;s <a href=\"https:\/\/twitter.com\/tokenterminal\/status\/1668005991898554370?s=20\" target=\"_blank\" rel=\"noopener\">data<\/a> revealed a significant surge in trading volume within the decentralized derivatives market and exchanges. Uniswap and dydx emerged as the primary facilitators of this increased activity and volume.<\/p>\n<p>The surge in trading volume on the dydx protocol can be attributed to the substantial growth in unique addresses on the network. Artemis&#8217; data highlighted a material increase in the number of addresses in recent weeks, contributing to dydx&#8217;s overall growth.<\/p>\n<figure id=\"attachment_320085\" aria-describedby=\"caption-attachment-320085\" style=\"width: 2178px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-12-at-2.29.30-PM.png\"><img decoding=\"async\" class=\"size-full wp-image-320085\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-12-at-2.29.30-PM.png\" alt=\"\" width=\"2178\" height=\"950\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-12-at-2.29.30-PM.png 2178w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-12-at-2.29.30-PM-300x131.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-12-at-2.29.30-PM-1024x447.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-12-at-2.29.30-PM-768x335.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-12-at-2.29.30-PM-1536x670.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-12-at-2.29.30-PM-2048x893.png 2048w\" sizes=\"(max-width: 2178px) 100vw, 2178px\" \/><\/a><figcaption id=\"caption-attachment-320085\" class=\"wp-caption-text\">Source: Artemis<\/figcaption><\/figure>\n<p>This surge in volume could further translate to increased revenue for dydx, as indicated by Token Terminal&#8217;s data. This indicated an 84.9% increase in fees generated by the protocol in the past week. However, the Total Value Locked (TVL) on the protocol experienced a 4.1% decrease during the same period.<\/p>\n<figure id=\"attachment_320086\" aria-describedby=\"caption-attachment-320086\" style=\"width: 2332px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-12-at-3.08.21-PM.png\"><img decoding=\"async\" class=\"size-full wp-image-320086\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-12-at-3.08.21-PM.png\" alt=\"\" width=\"2332\" height=\"1112\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-12-at-3.08.21-PM.png 2332w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-12-at-3.08.21-PM-300x143.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-12-at-3.08.21-PM-1024x488.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-12-at-3.08.21-PM-768x366.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-12-at-3.08.21-PM-1536x732.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-12-at-3.08.21-PM-2048x977.png 2048w\" sizes=\"(max-width: 2332px) 100vw, 2332px\" \/><\/a><figcaption id=\"caption-attachment-320086\" class=\"wp-caption-text\">Source: token terminal<\/figcaption><\/figure>\n<p>Similar patterns were observed on the Uniswap protocol, with fees generated increasing by 34.9% in the last week. In congruence with dydx, the TVL on the platform witnessed a 5.9% decline during the same period.<\/p>\n<p>Uniswap&#8217;s situation could improve if its NFT marketplaces witnesses increased activity. Dune Analytics&#8217; data further revealed a significant drop in transactions on Uniswap&#8217;s NFT marketplace in recent months. Attracting more users to this marketplace would positively impact Uniswap&#8217;s TVL.<\/p>\n<figure id=\"attachment_320088\" aria-describedby=\"caption-attachment-320088\" style=\"width: 1360px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-12-at-3.09.58-PM.png\"><img decoding=\"async\" class=\"size-full wp-image-320088\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-12-at-3.09.58-PM.png\" alt=\"\" width=\"1360\" height=\"730\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-12-at-3.09.58-PM.png 1360w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-12-at-3.09.58-PM-300x161.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-12-at-3.09.58-PM-1024x550.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-12-at-3.09.58-PM-768x412.png 768w\" sizes=\"(max-width: 1360px) 100vw, 1360px\" \/><\/a><figcaption id=\"caption-attachment-320088\" class=\"wp-caption-text\">Source: Dune Analytics<\/figcaption><\/figure>\n<p>The launch of Uniswap v4 also holds promise for attracting new users. Hints from Uniswap and its founder Hayden&#8217;s official Twitter account suggested the upcoming release of Uniswap v4. The success of this launch will play a vital role in shaping Uniswap&#8217;s future trajectory.<\/p>\n<hr \/>\n<p style=\"text-align: center;\">Realistic or not, here&#8217;s UNI&#8217;s market cap in <a href=\"http:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\">BTC&#8217;s terms<\/a><\/p>\n<hr \/>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"art\" dir=\"ltr\">\ud83d\udee0\ufe0f <a href=\"https:\/\/t.co\/Z6CPDg8mod\">https:\/\/t.co\/Z6CPDg8mod<\/a><\/p>\n<p>&mdash; Uniswap Labs \ud83e\udd84 (@Uniswap) <a href=\"https:\/\/twitter.com\/Uniswap\/status\/1667254427219120141?ref_src=twsrc%5Etfw\">June 9, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h3>How are the tokens doing?<\/h3>\n<p>Recent weeks have seen notable price declines for both dydx and Uniswap tokens. These price corrections aligned with a decline in whale interest, which likely contributed to the adjustment in token prices. However, the velocity of these developments continued to surge suggesting that transaction activity of the tokens remained high.<\/p>\n<figure id=\"attachment_320091\" aria-describedby=\"caption-attachment-320091\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Uniswap-on-Ethereum-UNI-15.12.36-12-Jun-2023.png\"><img decoding=\"async\" class=\"size-full wp-image-320091\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Uniswap-on-Ethereum-UNI-15.12.36-12-Jun-2023.png\" alt=\"\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Uniswap-on-Ethereum-UNI-15.12.36-12-Jun-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Uniswap-on-Ethereum-UNI-15.12.36-12-Jun-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Uniswap-on-Ethereum-UNI-15.12.36-12-Jun-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Uniswap-on-Ethereum-UNI-15.12.36-12-Jun-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Uniswap-on-Ethereum-UNI-15.12.36-12-Jun-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Uniswap-on-Ethereum-UNI-15.12.36-12-Jun-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-320091\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Trust in centralized exchanges declines, boosting interest in decentralized solutions. Uniswap and dydx witness surges in trading volume, however the tokens of both the protocols face challenges.<\/p>\n","protected":false},"author":73,"featured_media":320096,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[],"class_list":["post-320067","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Defi over CeFi? Rising interest in Uniswap and dydx state that... - AMBCrypto<\/title>\n<meta name=\"description\" content=\"dydx and Uniswap manage to see growth and see dominance in their respective sectors. 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Uniswap and dydx witness surges in trading volume, however the tokens of both the protocols face challenges.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/defi-over-cefi-rising-interest-in-uniswap-and-dydx-state-that\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-12T23:30:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/AMBCrypto_The_image_presents_a_breathtaking_view_of_a_futuristi_9b21303e-8f09-43de-8990-5e30b82e5853-e1686563915413.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"904\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Himalay Patel\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Himalay Patel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/defi-over-cefi-rising-interest-in-uniswap-and-dydx-state-that\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/defi-over-cefi-rising-interest-in-uniswap-and-dydx-state-that\\\/\"},\"author\":{\"name\":\"Himalay Patel\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/b0716c41c9ecf1a11e1da2fd9a49ba0e\"},\"headline\":\"Defi over CeFi? 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