DEX volumes continue to surge even as Bitcoin and altcoins correct By Cointelegraph

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DEX volumes continue to surge even as Bitcoin and altcoins correct

Decentralized finance (DeFi) started 2021 by taking the cryptocurrency sector by storm and helping to kick the bull market cycle into high gear as traders capitalized on ways to easily trade cryptocurrencies and earn high yields on their hodl stacks.

Eventually, high fees on the (ETH) network and a few sharp market sell-offs helped contribute to a pullback in token prices and DeFi transactions beginning in late February, but that trend appears to have reversed over the past week as activity on decentralized exchanges is once again on the rise.

DEX user and volume comparison. Source: DappRadar
4-hour chart. Source: TradingView
Daily DEX volume. Source: Dune Analytics