Crypto markets crashed hard in March, with bitcoin and eth seeing their biggest one-day busts in history. However, there is a silver lining here: dex popularity has increased even more.
Decentralized exchanges like Kyber and Uniswap saw record-setting volumes in March.
Kyber's most recent monthly report goes over the impressive numbers: new records in every category.
What I found most interesting was the huge popularity of dex-aggregators and how much volume these services were sending to Kyber.
A dex-aggregator is a coin-swap service that splits up your trade across multiple exchanges to get the best price. They are especially effective on large orders, as each exchange has limited liquidity reserves for each token.
I have found 1Inch.exchange to be very easy to use, but I had no idea how much volume was flowing through it into Kyber.
Kyber's report say that 1inch saw 100% increase in volume between February and March. 1Inch is now doing double the volume of MyEtherWallet, which is one of the most popular wallets in ethereum with 1million + users.
ParaSwap.io is another DEX aggregator that was recently launched, and its share of Kyber volume has also grown by 700%!
Posted via Steemleo