The decentralised exchange tokens (DEXs) have been swept along with the entire crypto market in the recent selloff. Uniswap, the largest DEX of the crypto industry, is now at $5.56. This represents a 66% drop from the highest price this year.
Raydium (RAY), Solana’s largest DEX token, is down to $1.60 from its high for the first half of the year, $3.30. In the last few weeks, other DEX tokens such as Jupiter and dYdX also experienced a sharp drop.
Coinbase’s stock, which was at its peak this year of $188 has fallen 37% to just $180. DTX Exchange is still booming despite its woes.
The DEX volume has dropped
Recent data shows that volume trading on DEX platforms dropped since its highest point in this year. Data shows that although the volume reached over $190 billion this July, it is lower than $250 in March.
Recent selloffs in Bitcoin and altcoins were the cause of this recent decline. Bitcoin, which reached a high of $73,500 back in March has now entered a bearish market. It was trading at around $54,000 as early Thursday morning.
Some analysts believe that this trend will continue, if cryptocurrency prices remain low in the coming months. The recent difficulties caused by interest rate increases by the Bank of Japan are cited by these analysts. This has resulted in a large unwinding of carry trades estimated to be worth over $500 billion.
DEX tokens such as Raydium and Uniswap have also retreated, mirroring other cryptocurrencies including Ethereum and Solana.
DTX Exchange defies gravity
DTX Exchange is a crypto asset that’s booming despite the industry challenges.
The data on the website indicates that over $1,23 million was raised in just a few short weeks. This makes it the largest token sale of 2018.
DTX Exchange aims at changing the cryptocurrency and stock trading industry through its decentralised platform. Using its platform, users will be able to buy and sell thousands of assets like cryptocurrencies, forex, contracts-for-difference, and commodities.
The platform will also allow users to leverage their money up to 1000x. The developers are hoping that this platform can handle $175 million of volume at first, which will generate a daily profit of $3.5 millions.
A portion of the profits from VIP presales will be returned to investors. This will give them a steady passive income.
Investing in the DTX Token gives you the chance to be a part of a platform which is poised to take over the CFD and crypto markets. Similar projects have made millionaires over the years.
Uniswap, for example, has a UNI token with a value of more than $3 billion. This is bigger than well-known firms like GameStop SiriusXM and AMC Holdings. These companies have all produced millions of millionaires. Unlike meme currencies like Dogwifhat DTX has a real utility and can grow over time. The DTX token can be purchased on the website.
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