The volume of DEX on BNB since May 7 amounted to $5.11 billion. A similar high trading level was observed earlier in November 2022 after the collapse of the FTX cryptocurrency exchange. The reason for the growing popularity of DEX was the restrictions of centralized exchanges by US regulatory authorities.
The BSC network was launched by the Binance crypto exchange and is currently a decentralized (DAO) ecosystem managed by the community.
Kathy Talati, Head of Research at Arca, cites several reasons for updating the annual maximum trading volume on DEX. Among them are the low commissions in the BNB chain and the popularity of Binance in the world of centralized exchanges.
Charles Storri, head of the growth department of the Phuture crypto index platform, agreed with Talati’s opinion and explained the increase in trading volume by the possibility of listing on the exchange and high-quality marketing support for the ecosystem. The expert noted that popular projects have an unspoken advantage and receive a Binance listing. In this regard, many projects seek to establish relationships with the crypto exchange.
The Uniswap decentralized exchange announced in March this year that it had expanded to the BNB network. In April, the company processed transactions worth more than $37 billion and outperformed Coinbase in terms of trading volume. According to Talati, this happened due to the deployment of the Uniswap protocol in the BNB chain.