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.

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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.

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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?

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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.

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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

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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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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?

That it needs to have a market deal and if investors will consider them to have potentials, that might be sustaining but since they are just new projects, can't be like that. One thing that could help these projects to keep their momentum is to have a use case project, I'm doubtful if they have. Or this hypes is somewhat in question or have someone shill and manipulated the price.

So before investing in them, you'd rather have to dig into these projects just to have some hints otherwise, it might a bull trap.

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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?

Whales thinking this same reason and they are the main reason why the DEX trend start all over again but remember that this whales main goal is to have profit. They will small fish money once they the total ordebook is sufficient to there holdings to take profit. Its still safe now to buy DEX tokens since it was already undervalued ut once Bitcoin once again make a move downward, I'm sure that these DEX tokens will be the one that will be severely affected.

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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?

As long as you can take part and make a profit from those decentralized tokens, that will be your benefit because at this moment, while the bitcoin price moves not good, you can still make money from some coins.
Maybe those tokens can increase more than now but that depends on how crypto market situation.
People search for the coins to trade and make money and they are moving from bitcoin into an altcoin and then moves into dex tokens if they can not get it from bitcoin and altcoins.
I do not have any idea if Dex tokens will be the next hot spot but I guess some investors still focus on accumulating more bitcoin at the current price.

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I think it's natural that there is an increase in the use of DEX as a result of the Chinese government's ban on providing services to Chinese citizens, which results in an increase in the price of DEX tokens. And I believe, soon it will also have an impact on popular tokens or altcoins to increase in price

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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 don't think it has something to do with the Chinese news or FUD. Decentralized exchange tokens have been here for many years already and has a so-so performance. Maybe it was just right time to pump these coins, or it was just a coincidence.

Nevertheless, good for investors who have been holding this for a while, for sure you can easily take profits and then go on the next DEX to pump.

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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.

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

The strong ban from China is an opportunity for DEFI to raise prices and it makes sense. DEFI will be the main trend for many years to come.

Agreed, The decentralized exchange site might become the main key to take over the users that were getting prohibited on the several countries. DEFI trend will be last forever.

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Quote from: lumierre on September 28, 2021, 10:14:11 PM

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 gree with you that coins of decentralized exchanges are likely to grow now as many centralized exchanges like Huobi and Binance don't let new users from China to register if they don't use VPN. So they have to look for alternative variants, and decentralized exchanges are a good choice, but they don't support fiat money usually, so they can be used only for exchanging one crypto to another, what makes the process of adding capital quite difficult.

The best alternative for traders who have regulatory issues like China who have already been blocked from some centralized exchanges is decentralized exchanges. they can still trade crypto assets even though there are strict regulations in their country. but how do they make withdrawals for fiat?

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Quote from: suryogandul on September 28, 2021, 09:05:00 PM

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?

as reported the deFI project will be more crowded in the near future. This is evident in accordance with the Chinese government's decision to enforce these rules. but in my opinion the most important thing is how the market in the future looks like it will start to improve with the situation

next month until the end of this year will likely belong to the DeFi project. DeFi coins are surging pretty well, we have a lot of chances to see the market will grow again. Now maybe it's not too late, hurry up and fill your bags and party for the end of the year.

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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 gree with you that coins of decentralized exchanges are likely to grow now as many centralized exchanges like Huobi and Binance don't let new users from China to register if they don't use VPN. So they have to look for alternative variants, and decentralized exchanges are a good choice, but they don't support fiat money usually, so they can be used only for exchanging one crypto to another, what makes the process of adding capital quite difficult.

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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?

as reported the deFI project will be more crowded in the near future. This is evident in accordance with the Chinese government's decision to enforce these rules. but in my opinion the most important thing is how the market in the future looks like it will start to improve with the situation

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

I think they will continue to rise and drive the market into a positive stage.What do you think is the next hot spot?

People have no choice and they must trade on the decentralized exchange site to be able to access the trading features. The decentralized exchange site will not make KYC as mandatory and they can trade on such platform anytime without worry for their accounts to be banned. this is making the price is increasing gradually. The bad news from china was slowly triggering the adoption for the dex. This is good but at the same time it will be giving bad impact to the cex as it must ban more countries from its services. that means less money will be on its daily trade volume as we know that there are lots of big trader were also coming from the china. The dex much more secure compared with the cex.
I hope that this can also trigger the dex developers to create more and more innovative features

firesurfer

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DEFI price increase causes Domain BTC.D to drop. Money flow will continue to trend towards altcoins.
The strong ban from China is an opportunity for DEFI to raise prices and it makes sense. DEFI will be the main trend for many years to come.

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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?

Looking at the various dYdX news and projects from last year, I see that the future looks very positive for dYdX.
However to ascertain whether it will rise or fall in 2021-2022 no one can say with 100% certainty whether dYdX will go up, but in practice I see that many cryptos have increased by a large percentage in the past year.

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Quote from: ivankoh on September 27, 2021, 08:53:57 AM

Markets ready to react to China FUD include Huobi banning Chinese users, Binance blocking fiat trading for Singapore citizens. Apparently the previous user's basic reaction was Withdrawal and Dex/defi proved more advantageous. At Dydx, Sov, and Uni all skyrocketed, showing a clear recovery. I think the rampage towards Defi will usher in another phase as soon as October.

I also have confidence that this rally will continue for the DeFi project market in the next month. the moment is being heated and DYDX has already become early to heat.
we'll see for more continuation because some observers are still signaling a small correction that may occur in bitcoin. but hopefully, that doesn't happen.

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

I think they will continue to rise and drive the market into a positive stage.What do you think is the next hot spot?

China's news were driving them all. I have been holding majority of my assets into the decentralized exchange tokens and almost all of my tokens were growing a lot. China's news was also making binance to re-evaluate its decision to accept the singaporean traders. It seems like china's news was giving big impact to the crypto.
that's why people are starting to put their assets into the decentralized exchange site. In my opinion that if the decentralized exchange site was more convenient compared with the sentralized exchange site that was easily to be taken down by the regulators. This will give people no choice rather than converting all of their assets into the decentralized exchange tokens or assets that was trading on the dex.
I guess more bad news will be driving people to leave from the centralized exchange site to the dex. this is just the matter of time. i must have loaded more DEX tokens lol.

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Markets ready to react to China FUD include Huobi banning Chinese users, Binance blocking fiat trading for Singapore citizens. Apparently the previous user's basic reaction was Withdrawal and Dex/defi proved more advantageous. At Dydx, Sov, and Uni all skyrocketed, showing a clear recovery. I think the rampage towards Defi will usher in another phase as soon as October.

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The trend of DeFi has not passed. Decentralized exchanges are DAPPs that can truly practice the spirit of Satoshi Nakamoto. In fact, only continuous updates can make the project more perfect, and the development of DeFi is not even just starting.

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I have expected it already, but can you provide data for us to see what Decentralized exchanges are rising in volume at the moment?
China ban resulted in panic selling probably, at least from people in this country, so I guess they also have to pay for a high transaction fee or gas fee when they use a DEX (Decentralized exchange ).

It's good development of DEX as they are actually struggling since Binance and other Centralized exchanges had dominated the trading volume.

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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?

That's the only option to be more safe away from any government regulations so its expected for them to get the hype while there's a panic on-going on most of the centralized exchange. This could be a great time for those DEX, but don't expect all of them to rise because for me only the top choices will rise since that could be more safer to invest and to spend your money.

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A large number of Chinese users will flood into the DeFi world, and the number of users of MetaMask and dYdX will greatly increase. All Chinese communities are discussing how to learn defi.

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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?

Well, the decentralized exchange or DEX services are good in terms of security and privacy, and also it was aligned with the crypto industry's decentralization dream. But besides all of those features and functions, still, they are not spared with some problems like the expensive transaction fees in Ethereum Network, Anyway, the DEX's governance tokens prices are on the rise now because of the huge demand from the investors because it has a huge potential.

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

the token prices of decentralized exchanges rose, such as sushi, uni and dydx, especially the rising stars of dydx.

All of dex tokens were rising a lot due to the massive migration by people to use the decentralized exchange site instead of pegged with the centralized exchange site. Sovryn was also growing a lot due to the this news.

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

I think they will continue to rise and drive the market into a positive stage.What do you think is the next hot spot?

massive migration is happening right now as the ban that conducted by the centralized exchange site has been forcing people to go to the decentralized exchange site. This is also making people to buy the dex token as well.
Im glad to see that how people started to realize that if the decentralized exchange site was better than the centralized exchange site but dex is still lack of features compared with cex.
This is all good for the crypto ecosystem

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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?

The next hot spot will be as usual, namely the increase of all popular Altcoins in the market so you will also see the average Altcoin will be green as it is now, because the benchmark is not specifically news from china, but rather how many users of the market cryptocurrencies so far.

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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?

Topic: Decentralized exchange token prices soared (Read 384 times)