There is more than one exchange in the financial market that deals with the trade of cryptocurrencies which raises the competition at the same time. The competition brings options for investors and traders at the same time. “Chain analysis” which has recently come up with the report of these different exchanges, ‘Decentralized Finance’ has outperformed all the other exchanges in the row and maintained the all-time ranking. The trend in the financial market started with the commencement of the year 2019 and ‘DEXs’ has been on the line since the very same year. It has tried to maintain the service with the clients in comparison to other exchanges on the list.
Growth in the number of users under DEXs
The exchanges in the financial market are compared on various factors and include the increase in the number of users. The intense fight and competition between the other exchanges were represented by the reports presented by Chain analysis. The scale and innovation of the various exchanges also matter when the investors or traders choose them to put their money. In these conditions, the Decentralized concept has come out leaving others on the backline as it offers people the transparency that is required.
The report was made keeping in mind the different categories that the exchanges were divided into. Surpassing all the other exchanges Decentralized exchange came forward with the maximum number of users who were active throughout the year. However, it was also stated that these exchanges, which were left behind in numbers, also are important at the same time.