Analytics firm TokenInsight estimates that BTC transaction volume fell 31.4% in the third quarter due to the rusharound DeFi, and the volume of trading of decentralized exchanges (DEX) reached a record level.
In the third quarter of 2020, the digital asset market faced a sharp jump, provoked by DeFi.The popularity of "liquidity mining" led to an increase in spot market trading and a sharp rise in ETH in the third quarter.The capitalization of the DeFi market in September exceeded $12 billion.The volume of trading of decentralized exchanges (DEX) reached $42.6 billion, which is 12.3 times more than in the previous quarter.
Throughout the third quarter, analysts noted a 140% increase in DEX turnover.At the same time, half of the trades took place on the UniSwap platform.
However, last month the DeFi market began to loseuser interest. This is largely due to the limited number of services that DeFi projects can provide, according to the TokenInsight team.
The tokens issued by DeFi projects are mostly governance tokens, which means that most DeFi projects cannot support the rapidly increasing market value.
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