Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => DeFi tokens => Topic started by: Dark Knight on June 26, 2021, 05:02:27 AM
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If you are here for the exchanges and not the story behind them, we recommend that you skip these sections and head straight to our Top 5 DEXs list. Otherwise, satiate your curious mind by discovering both their importance and powerful influence on the entire crypto market.
Decentralized exchanges have almost casually entered the crypto space in 2020, when all seemed lost as a result of increased volatility. Cryptocurrencies have once again had trouble with protecting their value, as the onset of a pandemic and economic crisis have critically worsened the state of financial markets.
Slowly but surely, DEXs have increased in size and began to ‘steal’ liquidity from CEXs. The chain of events resulted in the creation of a new market segment: decentralized finance (DeFi).
DeFi took the world by storm as it went from a valuation of $1 billion to $10 billion over the course of the summer. Almost a year later, since the fun started, DeFi is worth more than $40 billion.
Let’s be real. Everyone thought that DeFi was a fad and that it would ‘pop’ just like ICOs did a few years ago. All projects were token swapping platforms rather than proper exchanges, often carrying weird food names. Decentralized exchanges had the status of a ‘meme’ in the crypto community, and there was nothing serious about it that could convince us otherwise.
Not to mention, the crazy returns brought on by yield farming has cemented that line of thought by making us believe that the segment will not last for long - lo and behold, here we are.
source (https://academy.shrimpy.io/post/the-best-decentralized-exchanges-in-defi)