7/13/2023 0 Comments Binance dex volume![]() The TVL on Baby Doge Swap is setting new ATHs faster than the team’s Twitter account can keep up. Let’s take a look at Baby Doge’s very good year so far: Baby Doge Swap TVL The success and attention have translated into soaring price action for $BabyDoge, which has more than tripled in value since Jan. The MemeFi project continues to set new highs for Total Value Locked (TVL) and Volume on its Decentralized Exchange (DEX), while topping the trending list on Binance. In addition to suing Zhao as a “controlling person,” the charges also included allegations of fraud.The year 2023 has been nothing but wins for Baby Doge Swap. According to the SEC, Binance did not register as a securities exchange in the United States. On June 5, the Securities and Exchange Commission (SEC) filed a lawsuit against Binance, Binance.US, and Binance CEO Changpeng Zhao (CZ). In a lawsuit filed on June 6, the SEC accused Coinbase of offering unregistered securities and operating as an unregistered securities broker. Securities and Exchange Commission (SEC) legal actions are currently being taken against cryptocurrency exchanges, occurring simultaneously in the recent market frenzy. Binance currently holds a stablecoin balance of over $8 billion. Despite this, the current net outflows are still considerably smaller than the total reserve held by the exchange. On Binance, the net outflows, which are the differences between assets coming in and going out, reached a remarkable $778 million during the surge in decentralized exchange volumes. Due to the lack of centralized exchanges for these memecoins, investors turned to decentralized exchanges for them. Trading activity surged as crypto investors sought to acquire tokens like Pepe (PEPE) and Turbo (TURBO) through Uniswap and other decentralized protocols. Market Frenzy: DEXs Outpace Coinbase, Binance Sees Increased OutflowsĪs a result of the memecoin craze in May, the volumes of trading on decentralized exchanges briefly exceeded those on Coinbase. The most popular stablecoins on Curve are USD Coin (USDC) and Tether (USDT), both pegged to the U.S. Curve’s trading volume increased by 328%. Moreover, Curve, a decentralized exchange specializing in stablecoin trading, experienced a significant increase in trading volume. Data from CoinGecko highlights the growing interest and activity within the decentralized exchange ecosystem. The trading volume on these exchanges, which comprise 53% of the total volume on Decentralized Exchanges within the last 24 hours, soared by over $792 million. Trading volumes surged over the course of June 5 to June 7 on three prominent decentralized exchanges: Uniswap v3 on Ethereum, Uniswap v3 on Arbitrum, and PancakeSwap v3 on BSC. Investors reacted to Coinbase and Binance’s legal actions by the US securities regulator. ![]() Trading volumes on three of the most popular decentralized exchanges (DEX) have increased by 444% in the last 48 hours. Massive Surge in DEX Trading Volumes as Investors React to SEC Crackdown The increased volumes on decentralized exchanges suggest that traders turn to these platforms for their trading needs. This is likely due to the fact that, with the SEC crackdown, traders are looking for more secure alternatives to centralized exchanges, which are subject to more stringent regulations. In the past two days, the amount of trading on decentralized exchanges has increased by almost $800 million. Join Our Telegram channel to stay up to date on breaking news coverage ![]()
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