According to CZ, Binance cannot become a hybrid exchange with the current blockchain throughput
According to CZ, Binance cannot become a hybrid exchange with the current blockchain throughput
Changpeng ‘CZ’ Zhao believes the crypto industry needs more decentralized exchanges (DEXs).
Calls for more DEXs
CZ, on the other hand, believes that more decentralized exchanges (DEXs) are required in the crypto industry.
CZ said that the industry needs more choices outside of the big DEXs in the space. His tweet stated that PancakeSwap (CAKE) v3 was now available on Ethereum (ETH) and BNB Chain.
CZ claims that Uniswap (UNI) has the highest total value of assets locked (TVL) on the protocol, despite the fact that Pancake has the most users. He noted that as a result, the space becomes “too centralized.”
He added, “DEXs are easier to use if you know how to keep your wallet secure,” in reference to the fact that the industry required additional options.
In the meantime, the CEO of Binance issued a warning about the possibility of hacking DEXs and exploiting their codes.
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The expanded volume saw that Uniswap beat U.S.- based crypto trade Coinbase. In March, Uniswap’s trading volume was $71.6 billion, 45 percent more than Coinbase’s $49.4 billion.
In the meantime, DEX’s annual trading volume has decreased by approximately $3 billion. DEX recorded $136.4 billion in total volume in March 2022.
DEX volume rising in 2023
DEX volume has steadily increased throughout 2023 due to the recent regulatory scrutiny of centralized exchanges.
DEX’s trading volume has increased nearly 100% since the beginning of the year, reaching $133.32 billion at the end of March, according to DeFiLlama data.
The expanded volume saw that Uniswap beat U.S.- based crypto trade Coinbase. In March, Uniswap’s trading volume was $71.6 billion, 45 percent more than Coinbase’s $49.4 billion.
In the meantime, DEX’s annual trading volume has decreased by approximately $3 billion. DEX recorded $136.4 billion in total volume in March 2022.
