DEX market share hits new high, Raydium stands out! Solana Foundation: DeFi is expanding rapidly

This site (120bTC.coM): The Block data pointed out that because the ratio of DEX and CEX spot trading volume is climbing to a record high, the DeFi ecosystem is developing at an unprecedented speed, and the Solana Foundation also expressed this Agree, saying that choosing the right blockchain will be one of the important keys for developers.

DEX market share hits new highs, Raydium stands out

DEX seems to be taking over the cryptocurrency market as the ratio of spot trading volume between decentralized exchanges (DEX) and centralized exchanges (CEX) has reached a year high Gradually occupy an important share.

The above chart shows that the spot trading volume share of DEX compared to CEX has reached 13.76%, exceeding the previous high of 13% in May last year.

This change occurred when DEX’s monthly spot trading volume has declined for four consecutive months. Among them, Raydium’s market share among DEXs has been the most eye-catching, growing from 7.93% to 21% since the beginning of the year. This carves up part of Uniswap’s dominant position in the market.

As for CEX, led by Crypto.com and Bybit, each stood out in the fierce competition in the North American market and global offshore exchanges.

Solana Foundation: DeFi is expanding rapidly

In this regard, the Solana Foundation also made similar findings in a recent report, saying that even though DeFi has repeatedly faced difficulties including financial instability and regulatory pressure, it is still operating at an unprecedented rate speed, creating new markets and penetrating existing crypto markets.

DeFi’s current dilemmas and challenges

After going through lending and income, and then changing to a points system and re-pledge, the Solana Foundation attributes the turning point in the explosive development of the DeFi ecosystem to the launch of multiple stablecoins, calling them One of the major "killer apps".

However, he also admitted that with the expansion of DeFi, the obstacles faced by current projects and developers have gradually emerged, mainly including:

• Unclear regulatory environment (hostile attitude led by the US authorities)

• Unstable market demand (highly fluctuating with market sentiment)

• Unsustainable user incentives

• Information security risks

At the same time, the Solana Foundation also emphasized that due to the mutual differences between blockchains There are technical differences that lead to application exclusivity and intensified user competition: in this regard, a blockchain with a large number of existing user bonuses and the lowest related fees will attract completely different developers.

Diversification is stirring up the variability of DeFi

However, the Solana Foundation still expresses its affirmation of the recent development of DeFi, saying that the development of diversification and super applications is accelerating the variability of the DeFi ecosystem.

He emphasized that Solana Actions and Blinks functions that can simplify the user experience, as well as TON that integrates the advantages of social media, are one of the obvious cases.

Finally, the Solana Foundation likened the recent development of DeFi to "rapid and dramatic", saying it is creating new markets and penetrating existing markets: trends show expanding integration with existing Web2 infrastructure, continuous improvement of intuitive User experience, promoting community interaction, and formulating methods to enhance user loyalty are all factors that can effectively make DeFi projects successful.

And added, “As the current challenges become more severe and competition among developers will also intensify, the chosen blockchain will become particularly important.”

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