Decentralized exchange token prices soared

nicolas1979

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Quote from: Bazley on September 27, 2021, 12:40:13 AM

After the news that China banned exchanges from providing trading services to Chinese users fermented, the token prices of decentralized exchanges rose, such as sushi, uni and dydx, especially the rising stars of dydx.
I think they will continue to rise and drive the market into a positive stage.What do you think is the next hot spot?

I think it's just a temporary pump for certain coins, it has nothing to do with the crypto ban in china. Because the information about the crypto ban in China has no impact on the price of Bitcoin and other cryptos. Even a recent BitcoinArchive tweet stated that China would not be able to ban Bitcoin in their country. Most of the current memes about Bitcoin vs china are circulating on twitter. There is only one way for China to ban Bitcoin, which is to cut off the entire internet network in their country. But that's something stupid that can't be done. Grin

Maybe this is the advantage of investing in digital assets, no one can prohibit ownership of these assets. No government certificate required. Maybe they can shut down centralized exchanges, but decentralized exchanges can run smoothly. They can close exchanges in their country, but they also cannot close exchanges from other countries. This is something that is confusing for those who are not happy with crypto.

livingfree

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Quote from: ameliana on October 27, 2021, 05:40:06 PM

so if this DEX continues I just want to ask how is the development of the central exchange, will the trading volume decrease and switch to all DEX?

Not all CEX will decrease in volume.

There are traders that would like to stay with the use of CEX because they're convenient and easy to use. The two will co-exist and it's all up to us whether we like to use both of them.

But usually, we do use both of them.

letyouearn

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From one hand I think that the future is behind such platforms and decentralisation will come anyways. But from the other... when I see such fees on ETH swaps... I don't understand who all these rich people are?? the ones who constantly wastes their money on these platforms

ameliana

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I think Defi will be dimmed and the next replacement will appear but with news like this Defi and the current platform will continue to grow and maybe in the future there will be many projects that will develop Dapp with a better version, so if this DEX continues I just want to ask how is the development of the central exchange, will the trading volume decrease and switch to all DEX?

JeffBrad12

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Quote from: Jaered on September 30, 2021, 02:47:05 AM

However, crypto heads don't care anymore and some like me even welcome it, so as to buy the dip

They still care about the bad news that came to the crypto. The problem is too much people pegged with the centralized exchange site and once the exchange site was announcing the ban for the country to its service and it will be giving a big impact to the crypto. This mindset must be changed and people must have started to use the decentralized exchange site. I would like to say a big thank you for china has been making people in crypto started to seeing the decentralized exchange site again. The long term impact will be coming to the dex. Im very optimistic if so billions of daily trade volume on cex will be going to the dex maybe in the next years. there was also another chance to buy the dop price.
I hope that there will be no more FUD again from the major country.

passwordnow

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Quote from: Bazley on September 27, 2021, 12:40:13 AM

After the news that China banned exchanges from providing trading services to Chinese users fermented, the token prices of decentralized exchanges rose, such as sushi, uni and dydx, especially the rising stars of dydx.
I think they will continue to rise and drive the market into a positive stage.What do you think is the next hot spot?

If there's a huge demand and it's being used by many traders then it's the usual reaction of their tokens, they're bound to increase. But if there's no such demand on those decentralized exchanges then there's no surge that will happen.
But with the restriction and ban that has been imposed again by China, traders there will just go to dexes so that they won't be tracked and will just remit their profits to any of their relatives abroad to redeem it back to them.

Jaered

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China's ban of cryptocurrencies is like a regular theme in crypto news. It's now a yearly event with some quarters claiming is an intentional FUD to drive down the prices while they help themselves. However, crypto heads don't care anymore and some like me even welcome it, so as to buy the dip

SquallLeonhart

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Quote from: Bazley on September 27, 2021, 12:40:13 AM

After the news that China banned exchanges from providing trading services to Chinese users fermented, the token prices of decentralized exchanges rose, such as sushi, uni and dydx, especially the rising stars of dydx.
I think they will continue to rise and drive the market into a positive stage.What do you think is the next hot spot?

This shouldn’t come as a surprise to all of us, why? Because this was meant to happen. In every country where the government becomes an obstacle against cryptocurrency users, they all tend to move towards decentralized exchanges. Decentralized exchanges has only been the gateway for many people who lives in countries where cryptocurrencies are illegal.

People have been able to rely on decentralized exchanges to continue with their business of buying and selling cryptocurrencies and also to be able to have access to the cryptocurrency market. So for sure the assets of these exchanges are meant to increase in value since people are now moving towards that area. Before, centralized exchanges where the hotcake, but now is DEXes.

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Quote from: gaston castano on September 29, 2021, 11:26:04 PM

so the response is like this they put their money in decentralized exchange coins?
if so then the increase will continue to occur from time to time.
until this issue subsides.
or will it stay like this forever so the money that was in cex will gradually move to dex ?

Crackdown will make those traders hide their existence. I would also be afraid if I have that huge amount so instead of simply providing KYC data, I'd probably keep my money from confiscation when the government couldn't control themselves anymore from getting money to whatever they want to fund.

With Binance being a wealthy company with so many branches in every country is being pounded by authorities, there is a chance that your coins/tokens might be stuck there. So these traders are moving to other platforms and at the same time buying DEX tokens. DYDX is just an example but it started long ago you can already see CAKEand UNI price soaring.

gaston castano

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so the response is like this they put their money in decentralized exchange coins?
if so then the increase will continue to occur from time to time.
until this issue subsides.
or will it stay like this forever so the money that was in cex will gradually move to dex ?

sikke

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Quote from: Bazley on September 27, 2021, 12:40:13 AM

After the news that China banned exchanges from providing trading services to Chinese users fermented, the token prices of decentralized exchanges rose, such as sushi, uni and dydx, especially the rising stars of dydx.
I think they will continue to rise and drive the market into a positive stage.What do you think is the next hot spot?

Yes, but it's hard to pick winners.

Invest in a bunch of these tokens and you should see some very handsome rewards going into the future.

Centralized exchanges and finance are on the way out, that is for sure. But a good decentralised exchange framework is also hard to build.

justdimin

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Quote from: Bazley on September 27, 2021, 12:40:13 AM

After the news that China banned exchanges from providing trading services to Chinese users fermented, the token prices of decentralized exchanges rose, such as sushi, uni and dydx, especially the rising stars of dydx.
I think they will continue to rise and drive the market into a positive stage.What do you think is the next hot spot?

This will not be a permanent one neither though. I mean sure it may have seen some uptick because of the news, but it is not something that would be for a long time. It is good that Chinese people could money around from one token to another token (or even wrapped coins) but when they want to take their money out in cash form they will face with some problems. This is why this ban doesn't really leave any position left for the end result. Sure you can get some crypto, and move crypto to crypto if you want to, but the moment you want to put fiat in or take fiat out there will be a problem for them.

DEX doesn't solve this problem, it doesn't do anything about it at all, it is just leaving it where it is and they can't move it out. This is why the move towards higher prices for DEX tokens are just simply something temporary that will not impact it in the long run.

danherbias07

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I used most of this services when buying NFT's. I can say I was surprised at how good it is to avoid going thru exchange and looking for the right price and fill the order. It's definitely a good solution for faster transactions especially for the newly made projects that are looking for initial offerings.
I mean if its a centralized exchange, listing will be a necessity and it's not free and also not cheap. What if a project doesn't have that amount even if they are honest about what they are trying to pursue. DeFi or DEX opened a big hole for them to bring success.

Cadaver20

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After the Chinese government banned bitcoin and others cryptocurrency, naturally all cryptocurrencies took a hit. As a result, the price of all coins and tokens goes down a bit. But it can never be lasting. And this is what we see now. Gradually pumping of all coins and DEX tokens has started.

pergola

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The influx of Chinese cryptocurrencies into decentralized exchanges because of the ban on CEXs. This is predictable and I am sure that DEFI tokens will continue to increase in value when later this year the accounts on Huobi are completely removed from this exchange.

firesurfer

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Quote from: bitkanu on September 29, 2021, 02:39:27 AM

Quote from: firesurfer on September 27, 2021, 10:51:58 AM

DEFI price increase causes Domain BTC.D to drop. Money flow will continue to trend towards altcoins.

What do you mean about domain BTC? if you meant BTC was causing this dump and people will still stay on the cex. what you're saying didn't fit the reality that happened in the market. it's not about money from bitcoin was moving to the altcoin but this is the different case that was involving the government from china. The regulators from china were making so many crypto platforms to prohibit people from china again.

Domain BTC.D is the strength of Bitcoin versus Altcoins. DEFI is in Altcoins.
Domain BTC.D drop is a reflection of the market capitalization pouring into altcoins. Right now it seems that people are holding more altcoins than stable coins and Bitcoin.

China no longer has a great influence on the market even though they are constantly banning. It shows that the market volatility after each ban is no longer large.

kojektea

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yes, that's true. It seems like everyone is very happy if China does not interfere in cryptocurrencies. So after the news came a lot of coins that jumped up. We should always monitor it because there are so many surprises ahead.

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I think the price increase will not last long, because the opposite difference for tokens that have been in crypto for a long time is starting to decline, so don't hold on to the token too long..
and also the factor of countries that have started to regulate trading on crypto.

ven7net

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Quote from: Bazley on September 27, 2021, 12:40:13 AM

After the news that China banned exchanges from providing trading services to Chinese users fermented, the token prices of decentralized exchanges rose, such as sushi, uni and dydx, especially the rising stars of dydx.
I think they will continue to rise and drive the market into a positive stage.What do you think is the next hot spot?

Probably the next event could be both the beginning of the general growth in the crypto market and the beginning of the altseason. But if we talk about events in the world, then another trigger for new growth may be another news about the adoption of crypto in one more effort, or another news from China about blocking the use of cryptocurrencies. In any case, now the crypto market is too manipulative and any news can trigger both an increase in prices and a drop in prices.

cryptoaddictchie

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Quote from: Bazley on September 27, 2021, 12:40:13 AM

After the news that China banned exchanges from providing trading services to Chinese users fermented, the token prices of decentralized exchanges rose, such as sushi, uni and dydx, especially the rising stars of dydx.
I think they will continue to rise and drive the market into a positive stage.What do you think is the next hot spot?

There are plenty of other dex without tokens yet. With the rise of these exchange tokens, definitely those others will pobably have their tokens release. I am expecting metamask, opensea, zapper finance, zerion, or matcha will likely to have their own dex tokens. So used those cause the news on China will definitely used those dex now.

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