Dydx trade volume explode after the recent Chinese crypto ban-

dydx, a decentralized stock exchange, has experienced an exploding trading volume in the past few days and surpasses other recognized decentralized stock exchanges such as uniswap and pancake exchange. Some analysts have suggested that this could be the result of the latest Chinese cryptocurrency ban, which led to the fact that users based in China shift their trading activities to these platforms.

Dydx bursts before activity

dydx, a decentralized stock exchange, which, unlike other similar platforms, offers an order book, has been full of activities in the last few days. The activity in the decentralized stock exchange has grown enormously, with volumes exceeds that of his decentralized competitors such as uniswap and pancake exchange. In fact, on September 26, the Dydx trade volumes exceeded the Coinbase and reached a large milestone for the platform.

According to Antonio Juliano, the founder of Dydx, the stock exchange to move while Coinbase moved $ 3.61 billion on the same day. Dydx was originally based on Ethereum, but has since contained an L2 layer called strong goods, which enables much cheaper fees and offers its users the same functionality. This has also caused the stock exchange to become popular and is now more attractive for everyday traders.

Due to the incredible growth of Dydx's commercial volume, some analysts have explained that this could be due to the fact that Chinese dealers switch to decentralized alternatives after they have been abandoned by their centralized objects. This waiver was motivated by the recent cryptocurrency prohibited This forced the Asian stock exchanges not to offer services for users based in mainland china.

decentralized stock exchanges are currently the best option for Chinese dealers because they do not enforce KYC guidelines for their customers. This means that retailers can continue to keep and exchange their assets without the risk of state interventions, and now this property is of crucial importance for Chinese users.

The value of Dydx, the governance token of the stock exchange, has also increased steadily since it was awarded to its dealers at the beginning of this month. The token has more than 100 % in just one month, and the price is now around $ 24. This means that the Air drop is now worth twice if they have been assigned, some Dealers now have received dydx worth $ 900,000.

What do you think of the latest explosion of the Dydx trade volume? Tell us in the comment area below.

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