The digital asset industry is consistently flourishing, especially since people saw the need to operate a decentralized network. Recently, decentralized platforms increased due to the rise in demand and the presence of crypto-related networks. People want to have sole autonomy over their assets, thereby being one reason why investors rush to those platforms.
Despite the consistent price corrections crypto assets face, decentralized exchanges seem to be recording more gains. The platform’s tokens continuously surge every day within some days. The surge is consistent, attracting new buyers interested in the sector. When comparing DEX and CEX coins, the former performs significantly better based on recent data. This could be because the DEX platform gives users the unlimited power to use their holdings without restrictions.
Comparison between DEX and CEX tokens
Although both coins recorded new gains, DEX still records significantly higher returns. While CEX had an 8% increase, DEX had a 44% increase. The decentralized platforms allow traders to meet and trader directly without third-party involvement.
The platform mainly gives them the venue to use while the individuals seal the agreement. The peer-to-peer trading platform gives traders the ultimate freedom, and the operators cannot intrude or restrict a trader’s activities.
The centralized trading platform is the complete opposite because the traders need the third-party’s authorization at some points. Clear evidence is UNI’s newly recorded gains because the token increased by over 20% today, while the past days saw an 80% increase.
While UNI was the biggest winner, other tokens recorded new gains too. SushiSwap saw a 38% increase, followed by Loopring, with a 24.15% increase, and Synthetix Network Token, by 16%.
Interestingly, a few of the DEX tokens recorded a price drop. Polkastarter, Hegic, Kyber Network, and MCDEX tokens fell even with the industry’s massive surge. The DEXs are gradually dominating the space, attributed to the larger followership than CEXs’.
CEXs did not record significant gains during the period
The centralized trading platform tokens did not record many gains, save for someones. CATT had a 1,100% gain, while VGX, TDX had 225% and 246% increase, respectively. But when focusing on the total sector shift, then DEX leads with a soaring 44% increase. People linked the rise to Gamestop’s restriction.
People now see DEX as a more reliable platform, especially at crucial times. Robinson prevented traders from purchasing GME on the platform, which would stop the asset’s price growth. The action brought so much controversy, as people thought Robinson wanted to be unfair.
While many still suffer from the restrictions, others have explored the decentralized platform sector, thereby leading to more investors. The increased investors would indirectly bring more growth to the DEFI industry and also give the investment publicity.
The DEFI space is getting the attention it deserves soon when bigger investors prefer DEX exchanges because of their lack of intermediaries stopping the industry growth. Fortunately, the blockchain-based industry would attract new people, mainly because of the assurance of greater returns. Presently, enthusiasts are still criticizing GameStop’s restriction, which could lead to some outflows for the sector.