Finally they understand the value of Decentralization !

Gormicsta

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Quote from: Hispo on March 15, 2023, 11:55:29 AM

This will inneed be a lesson for people, mostly for retailers and not CEO's behind crypto-projects.
One is expecting to hold dollars in a secure decentralized way, but when we talk about those full-backed assets, in reality there is not much difference from the risk of having one's money in the bank.

There is actually a disadvantage, since in this case, one (as final user) does not have a say on what bank to trust.

On the increase of volume, besides increasing from people trying to swap their tokens for other reliable coins on Uniswap, the volume could be also be due to people trying to pocket a buck, speculating on the value of USDC and arbitrage.

I believe we also need to analyze how a government-backed digital money might affect the financial sector. People might store and transact with their money online, reducing the necessity for traditional institutions. This might cause a disturbance in the banking system, and possibly even the abolition of banks as we know them. It is feasible that the government may become the exclusive supplier of financial services, with consumers no longer needing to go through a bank to get their money. As a result, improved knowledge may lead to increased interest in non-government-backed cryptocurrencies such as Bitcoin, among others.

Fortify

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Quote from: Flexystar on March 15, 2023, 08:50:18 AM

This news is really interesting and should excite the crypto lover a lot. Since we know that the crypto space is all about a decentralized environment and everything is trusted on the public ledger, the same thing was proven by the recent event of US bank collapse that happened recently. SVB lost its major players which were mostly centralized exchangers.

This followed the collapse of USDC the second-largest accepted stablecoin in the market. It lost its dollar ratio and had highly unstable circumstances.

Soon after the market got aggregated a whopping 25 billion dollars worth of volume is getting traded or exchanged over a decentralized market. This is recorded high all the way after 2021 trading volume. This is a clear indication that whenever a centralized market is baffled people are moving to a decentralized market to secure their funds.

It's clear that if the centralized market is relying on the banks then their funds are not secure and it could create a chaotic situations like FTX and thus everybody thinks their funds are not safe at all.

Quote

Decentralized crypto exchanges facilitated a record high $25 billion of daily trading volume on Saturday, according to Defi Llama data.
The previous high of $24.3 billion was in May 2021, when bitcoin (BTC) was worth roughly $65,000 and ether (ETH) $4,400.
Trading activity surged on a wave of panic as USD Coin (USDC), the second-largest stablecoin, lost its peg to the dollar following a short-lived banking crisis in the U.S.

The majority of trades took place on decentralized exchange Uniswap, with weekly volume of $31.7 billion. On the Curve protocol, meanwhile, traders rushed to flee USDC – a move that prompted an unbalancing of the protocol's equally weighted stablecoin liquidity pool.
Circle, the company that issues USDC, calmed concerns by reiterating that every USDC token remained backed by one U.S. dollar, despite having $3 billion in exposure to the troubled Silicon Valley Bank.
Volume across the decentralized finance (DeFi) sector has remained high in the wake of the depegging with a weekly increase of 255%, according to Defi Llama.
Traders' confidence in USDC was demonstrated by a surge in on-chain leveraged positions, with $70 million being at risk of liquidation if the stablecoin was to lose its peg again.

Decentralized Exchanges Posted Record $25B Daily Volume as USDC Depegged

I've literally never seen the term USDC before opening this thread, maybe that means I'm far outside the loop or they just never had mainstream reach. Either way, if the majority of trading took place through one exchange, that sort of signifies a type of rigging that was going on, because even one of these supposed stablecoins should be receiving a lot of interaction across many different exchanges. It makes you wonder if uniswap were somehow part of the operation that looked after USDC and tried to benefit in more ways than one. It doesn't mean much, as many cryptocurrencies have fallen over just as quickly and it's a rather bad point to make on that basis.

goldkingcoiner

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Decentralization and Blockchain is a new advance in our technological progress and as history teaches us, we take new technology in very slowly because it takes time not only to spread, but to be understood completely. Half of all people on earth are not very intelligent. And humanity can only go as fast as its slowest member.

So this whole time-lag in people adopting its quite understandable from an empathic point of perspective.

If anything I see this slow movement as a good thing (for us smarty pants) because it gives us an advantage of early adoption/investment.

fadhilz123

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Quote from: Lubang Bawah on March 20, 2023, 06:56:19 AM

If there are countries that dare to implement a decentralized financial system, it is certain that the economy will continue to improve, there will never be inflation and other positive things, cryptocurrencies use the concept of decentralization so that when there is a project that can control market conditions, it is certain that the project will fail, decentralization really depends on the market situation.

How do you know that countries that dare to implement a decentralized financial system will experience improvements in their economic sector? Have you seen any countries do this before, because I only saw about the adoption of Bitcoin in El Salvador which made the country continue to progress with a very good government system. But what needs to be known is that the country's progress does not all depend on Bitcoin, because the government also has income through other things such as tourist attractions.

South Park

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Quote from: firesurfer on March 19, 2023, 12:15:37 PM

The financial system is flawed and should not be blamed on the banking system. The collapse of banks due to the Fed's monetary policy was too tough to maintain inflation. Printing too much money and raising interest rates too high significantly affects banks.
I only believe in Bitcoin because of the substantial decentralization of the network. Applications like DEFI always have liquidity problems. In the past and present, projects are often attacked or cause transaction errors that cause users to lose assets.

But banks themselves encourage that system, if banks were so unhappy with what the governments were doing you can be sure they would have already used their influence to change things up in a manner that favors them, however this system in which banks can collapse any day of the week is precisely what they are looking for, and this is because they know that if they get in trouble the governments will rescue them, so they can take all the risks they want and when they lose it is the people that pay and not them.

Lubang Bawah

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If there are countries that dare to implement a decentralized financial system, it is certain that the economy will continue to improve, there will never be inflation and other positive things, cryptocurrencies use the concept of decentralization so that when there is a project that can control market conditions, it is certain that the project will fail, decentralization really depends on the market situation.

firesurfer

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The financial system is flawed and should not be blamed on the banking system. The collapse of banks due to the Fed's monetary policy was too tough to maintain inflation. Printing too much money and raising interest rates too high significantly affects banks.
I only believe in Bitcoin because of the substantial decentralization of the network. Applications like DEFI always have liquidity problems. In the past and present, projects are often attacked or cause transaction errors that cause users to lose assets.

Paul Pogba

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Decentralization is a system or concept that was used thousands of years ago, at that time the transaction system used gold and silver so that its value would never decrease and last under any circumstances, the presence of fiat created chaos because the state no longer cared about what basis to print fiat, when problems occurred many planned to return to a decentralized system.

Smartprofit

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Both centralized and decentralized systems have their advantages and disadvantages.

Centralized systems are suitable for making quick management decisions. Centralized systems are also very well suited for concentrating a large amount of resources in one place. At the same time, centralized systems need a built-in feedback system. If this mechanism breaks or does not work well enough, then the centralized system collapses.

Decentralized systems are flexible and highly adaptable.

However, in these systems, it is often difficult to reach consensus quickly when a complex management decision needs to be made quickly.

In practice, it is advisable to combine elements of centralized and decentralized systems. This will create a powerful and fast, and at the same time flexible and adaptive system.

Pejoh Asu

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The increasingly popular bitcoin makes many people think that the concept of decentralization is a solution to the many and complicated economic problems, inflation that often occurs because the government is not looking for a better financial system and only relies on paper money that is only given numbers, while decentralization is a good concept that rely on market forces.

siniminomorocomunisakito

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My view on this, I think Decentralization is very important also for the future of money but Centralized systems are also easy to attack, control or influence. This is highly speculative, and the market relies heavily on public perception rather than reality. While this was a correction, it was a steep one, indicating overall market panic. so it is very important to remember that for a person investing should not be more than you can afford to lose.

BitcoinPanther

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Quote from: Joshapat on March 18, 2023, 01:04:42 AM

Many governments are afraid to use the concept of decentralized finance because they feel that the decentralized system creates many problems, but from the other hand, the decentralized system is very good because it gives an opportunity for anyone to develop, and when there are many problems, many people think that the solution to financial problems is decentralization.

The government does not fear decentralized systems, government hated them because the government doesn't have control over the decentralized system. The Government creates propaganda that a decentralized system such as Bitcoin is a Ponzi scheme or rat poison. It is worst than the tulip bubbles just to make people lose their trust in Bitcoin. They keep feeding the masses with lies to cover their mess. But truth always prevails as we see the traditional banking systems fail over the course of their dominance even though the government is highly in support of the system.

Quote from: Ben Barubal on March 18, 2023, 10:28:54 AM

Decentralization is really good and this is the main reason why no government can control bitcoin, because bitcoin has a fixed supply so the authority cannot interfere with what concept it has.

That is why the government comes to a solution to use centralized exchanges to at least control the flow of Bitcoin transactions, if they can't control the system itself.

Quote from: Ben Barubal on March 18, 2023, 10:28:54 AM

That's why it's still better to conduct trading activity on decentralized exchange platforms because I see it as safer for assets in terms of control system that is not in DEX.

But the problem with decentralized exchanges is the limited feature, wherein, is offered by the centralized exchanges, let alone the number of cryptocurrencies being traded and most important, the liquidity. Until the decentralized exchanges are fully enhanced and offer services that are centralized exchanges had, we cannot avoid using centralized exchanges especially when we have altcoins in hand.

samcoin

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Quote from: Flexystar on March 15, 2023, 08:50:18 AM

This news is really interesting and should excite the crypto lover a lot. Since we know that the crypto space is all about a decentralized environment and everything is trusted on the public ledger, the same thing was proven by the recent event of US bank collapse that happened recently. SVB lost its major players which were mostly centralized exchangers.

Honestly, I'm excited about this news, although it doesn't look like good news for the global economy. I feel that the stage for which Bitcoin was invented and presented is getting closer in every time we hear a new bank collapsing and going bankrupt. Indeed, the power that Bitcoin offers over value storing and transferring will attract a lot of capital into it, and Bitcoin rising by 50% after the SVB troubles isn't a coincidence. Therefore, I hope there will be additional hikes in Bitcoin price during this period as money is being moved from traditional banks to Bitcoin and other crypto currencies.
What the crypto sector needs now is to get rid of the relationship with the traditional banking system, and build a new system that has no relationship with traditional banks.

Ben Barubal

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Decentralization is really good and this is the main reason why no government can control bitcoin, because bitcoin has a fixed supply so the authority cannot interfere with what concept it has.

That's why it's still better to conduct trading activity on decentralized exchange platforms because I see it as safer for assets in terms of control system that is not in DEX.

Joshapat

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Many governments are afraid to use the concept of decentralized finance because they feel that the decentralized system creates many problems, but from the other hand, the decentralized system is very good because it gives an opportunity for anyone to develop, and when there are many problems, many people think that the solution to financial problems is decentralization.

ololajulo

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Quote from: Anonylz on March 16, 2023, 02:18:22 PM

Quote

This is a clear indication that whenever a centralized market is baffled people are moving to a decentralized market to secure their funds.

It does not apply to decentralizing and centralized space only, it is a common human practice to always look for alternatives when something happens to the main object.
Decentralized finance happens to be the best alternative at the time so they turn to it, does that make them so see decentralized finance as better than traditional finance? it is hard to tell now but perhaps time will let us know that.

They have always been after the system by discouraging and attacking the decentralized market to gain a large share of the project, monitoring and manipulating it, but many benefit more from it outside the region of this strong regulation against decentralization. unfortunately this region gives the largest investment for the space.

Ngewex Yuk

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Economic problems that often occur globally due to financial factors, the state feels that making a centralized fiat is better, of course the state has the power to print paper money, but when printing it certainly requires support such as gold and silver so that its value will be maintained, many countries experience inflation is more than 10% per year and it is certain that it will be difficult to overcome if you do not want to use the concept of decentralization.

coupable

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Quote from: Swordsoffreedom on March 15, 2023, 11:43:04 PM

Quote from: coupable on March 15, 2023, 11:30:18 AM

It must be recognized that each type of platform has its advantages and disadvantages.
Unlike centralized exchange platforms, decentralized cryptocurrency trading platforms lack a number of useful features such as stop loss, margin trading, and others. These features are not added by decentralized exchanges, but centralized ones already boast of these features. These features also can be a major hindrance in a trader's performance.
Centralized platforms are also easier to use than decentralized platforms where users have to navigate through dozens of smart contracts. This can be an inconvenience, even for experienced users.

It's a fair comment, both have their pros and cons, no one is perfect when it comes to comparing the two. I don't know, why people are always waiting for the demise of a company or centralized exchange to mock and ridicule. While we also have thousands, millions of banks are still very stable to serve us. I think, whether it's DEX or CEX, it's just to serve us, to make our lives more convenient, so let's just use both for each appropriate case. All DEX or CEX, none of them are entirely reliable, use them for the right purpose and always have a backup plan.

Unfortunately, the truth is that people are often driven to use centralized platforms because of the banking culture they have acquired throughout their lives. They cannot bear the responsibility of keeping their savings, and therefore they do not mind handing it over to a trusted institution or entity for some fees. Even those who use decentralized platforms, I am sure that only a few of them are really interested in maintaining the greatest amount of privacy, and the rest are forced to do so if the token to be traded is only available on decentralized platforms.

vv181

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Quote from: Anonylz on March 16, 2023, 02:18:22 PM

Quote

This is a clear indication that whenever a centralized market is baffled people are moving to a decentralized market to secure their funds.

It does not apply to decentralizing and centralized space only, it is a common human practice to always look for alternatives when something happens to the main object.
Decentralized finance happens to be the best alternative at the time so they turn to it, does that make them so see decentralized finance as better than traditional finance? it is hard to tell now but perhaps time will let us know that.

Decentralized exchange is a solution to their problem. At the time USDC depegged, some exchanges are limiting or closing the USDC pair trade, it is expected to address their concerns, people moving out of their USDC from centralized exchange onto a decentralized exchange where the trade could finally happen.

So surely, it is not the correct term that people move to dexes, specifically over the course of that period, since they merely try to jump out from USDC. If only, people aware of that occurrence, in the future they truly moving not merely using dex, then they could be called to truly utilize dexes.

Anonylz

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Quote

This is a clear indication that whenever a centralized market is baffled people are moving to a decentralized market to secure their funds.

It does not apply to decentralizing and centralized space only, it is a common human practice to always look for alternatives when something happens to the main object.
Decentralized finance happens to be the best alternative at the time so they turn to it, does that make them so see decentralized finance as better than traditional finance? it is hard to tell now but perhaps time will let us know that.

KingsDen

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Quote from: South Park on March 16, 2023, 01:42:23 PM

Quote from: wajik-tempe on March 16, 2023, 12:13:03 PM

True, but we must also recognize that some of those platforms are selling themselves as being decentralized when this is not really the case and this is a problem, after all an investor may decide they want to avoid centralized platforms due to the risks they force upon them and choose decentralized exchanges to avoid them, only to realize too late that the exchange in which they were trading was centralized anyway and they got none of the benefits of decentralization anyway.

Very apt statement by you mate. It is very difficult to find a truly decentralized system. I have seen may systems which includes coins, exchanges and others that posses as decentralized system but yet still centralized and manipulated. It is quite difficult to see a creation that is 100% decentralized. That is why I am cool with bitcoin because that is a true definition of centralization we know.
But as many incidents unfolds, many people have began to understand the importance of decentralization and many people will begin to adopt same.

Shan85

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Thank you for sharing this. It is indeed fascinating and would undoubtedly excite crypto.its a decentralized nature of the crypto space and the reliance on public ledgers has once again been proven with the recent collapse of US banks and centralized exchangers, such as SVB. The collapse of the USDC, the 2nd stablecoin in the market. the reliance of centralized markets on banks must be reconsidered in light of recent events. Thank you again for sharing this good insight

Aanuoluwatofunmi

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I don't think it's every business economy that really understand the meaning of decentralization because it's doesn't end with investing on bitcoin alone, it involves doing away with other centralized digital currencies, using a decentralized exchange and also running an economy under a non custodial channel whereby government or third party will have control over the affairs of the things you're doing, decentralization means freedom from any authorities or third party.

South Park

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Quote from: wajik-tempe on March 16, 2023, 12:13:03 PM

Yes, the recent events in the crypto market have highlighted the importance and growing popularity of decentralized exchanges (DEXs). The fact that DEXs facilitated a record high of $25 billion of daily trading volume on Saturday, following the depegging of USDC stablecoin, shows that traders are increasingly turning to decentralized platforms to secure their funds and avoid the risks associated with centralized exchanges.
The recent events have shown that the crypto market is still highly volatile and unpredictable, but it has also highlighted the importance of decentralized platforms in providing a more secure and transparent trading environment for crypto traders.

True, but we must also recognize that some of those platforms are selling themselves as being decentralized when this is not really the case and this is a problem, after all an investor may decide they want to avoid centralized platforms due to the risks they force upon them and choose decentralized exchanges to avoid them, only to realize too late that the exchange in which they were trading was centralized anyway and they got none of the benefits of decentralization anyway.

wajik-tempe

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Yes, the recent events in the crypto market have highlighted the importance and growing popularity of decentralized exchanges (DEXs). The fact that DEXs facilitated a record high of $25 billion of daily trading volume on Saturday, following the depegging of USDC stablecoin, shows that traders are increasingly turning to decentralized platforms to secure their funds and avoid the risks associated with centralized exchanges.
The recent events have shown that the crypto market is still highly volatile and unpredictable, but it has also highlighted the importance of decentralized platforms in providing a more secure and transparent trading environment for crypto traders.

so98nn

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We can call it one step towards the actual existence of decentralisation but we can’t claim this is what happening in the world right now. What I mean is really simple if you know how pees keep changing their minds as per the situation. As stated by you in the OP the whole chain reaction started after the collapse of bank and then out of the fear of losing funds in the process everyone is moving or trading more on decentralised exchangers as compared to the before zone in the want of “saving”.

Consider the reverse situation here when decentralised exchangers run out enough volume and they do not get much users for long time then ultimately everyone would start trading on centralised exchanges again. That’s the only bridge point here.

el kaka22

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I would guess that people are investing heavily into crypto these days because they are taking their money out of the banking world. This caused a huge spike in bitcoin price as well, and that is why I think we are in a good movement these days, we will probably keep going up for a while but congress and treasury got together on a zoom call just the other day and decided that everyone will be protected.

This means people with over 250k will be still given their money, this will not be from taxpayers money but a prevention fund that banks already pay into, so it is not going to be coming out of anyone's pocket. However, it is still a proof that the system fails, you may recover after the fail, but fails nevertheless.

Outhue

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Good topic OP, I do have a question, now, are decentralized exchanges really decentralized? Because if SEC investigate DEX and they found a leak then it will be a disaster, it might not be sooner, but believe me, once Decentralized exchanges becomes noticeable, there will be some investigation behind the closed doors, because I don't believe that those decentralized exchanges are truly decentralized.

It's a good thing to see that DeXs are now getting the attention they needed, I have always dreamed about this because Centralized exchanges are too risky but everything has its disadvantages, let's just keep hoping for the best future.

jrrsparkles

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I won't say they understand the value of decentralization by using decentralized platforms for trading instead of centralized but this is more of a survival tactic to avoid the loss but the ultimate goal should be avoiding any centralized coin which includes all the stable coins which isn't happening since USDT and other stable coins still having high trading volume on most of the exchanges.

Faisal2202

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Quote from: Flexystar on March 15, 2023, 08:50:18 AM

snip

The rise comes with down trends if the trading volume from a centralized platform moves to decentralized ones and breaks the trading volumes, but i think it's not fair that they do not have any other options to do trading. like they were forced to make transactions or lose their money due to fud and fear of USDC de-pegging.

On the other hand, SVB gave an awesome entry in the market. but as i said ups come with downs, and this is not applicable to everyone like the one who managed to take advantage is now "UP" and the one falling prey to market sentiments is facing "Down" so overall, the market has something for everyone. Decentralization no doubt needs no popularity people who are involved and tasted the flavor of DEXs are the ones who know how fast, secure, and custodial assets transactions are. But new technologies are still coming with great features which could circumvent the limitations that DEXs comprise. This will also increase the DEX volumes and when the People will fall prey to taking Interest from Banks and When Banks will give them no options other than taking it.

Then people will understand the potential DEXs holds, and i hope this could be bearable for them.

stompix

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Quote from: Flexystar on March 15, 2023, 08:50:18 AM

It's clear that if the centralized market is relying on the banks then their funds are not secure and it could create a chaotic situations like FTX and thus everybody thinks their funds are not safe at all.

While that one was obvious for everyone since it's just logical when you spend just a few seconds on it, at the same time DeFi is often misleading, both in terms of decentralization which is not always there and when it comes to security:
https://www.coindesk.com/business/2023/03/13/euler-defi-protocol-exploited-for-nearly-185m/

Quote

The losses occurred over four transactions in dai (DAI), wrapped bitcoin (WBTC), staked ether (sETH) and USDC after the attacker conducted a flash loan attack.

Not a bank run, not a fractional reserve but a simple exploit, and here you go, $200 million worth of coins evaporating.
Best to keep things simple, don't rely on anything that might prove to be something else than what it advertises itself for.

Swordsoffreedom

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Quote from: coupable on March 15, 2023, 11:30:18 AM

It must be recognized that each type of platform has its advantages and disadvantages.
Unlike centralized exchange platforms, decentralized cryptocurrency trading platforms lack a number of useful features such as stop loss, margin trading, and others. These features are not added by decentralized exchanges, but centralized ones already boast of these features. These features also can be a major hindrance in a trader's performance.
Centralized platforms are also easier to use than decentralized platforms where users have to navigate through dozens of smart contracts. This can be an inconvenience, even for experienced users.

It's a fair comment, both have their pros and cons, no one is perfect when it comes to comparing the two. I don't know, why people are always waiting for the demise of a company or centralized exchange to mock and ridicule. While we also have thousands, millions of banks are still very stable to serve us. I think, whether it's DEX or CEX, it's just to serve us, to make our lives more convenient, so let's just use both for each appropriate case. All DEX or CEX, none of them are entirely reliable, use them for the right purpose and always have a backup plan.

Hydrogen

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Quote from: Flexystar on March 15, 2023, 08:50:18 AM

It's clear that if the centralized market is relying on the banks then their funds are not secure and it could create a chaotic situations like FTX and thus everybody thinks their funds are not safe at all.

If the last decade has any lessons to teach.

One thing which might be learned is a good percentage of people in the world work hard to live under a rock. Many pride themselves on never following current events on the news and not being able to find australia on a map. The size and distribution of this demographic is a key component to determining what segment of the population is aware events like FTX are occurring. As well as to recognize how far implications of asset contagion and economic instability might penetrate into public consciousness.

While these events might seem broad in scope to those of us who have seen it on a daily basis over a period of many years.

It helps to remember that not everyone is so lucky as to have the benefits of basic knowledge.

harapan

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Funny enough a lot of people won't still learn from this. I don't know what needs to happen before they realize that their money is not safe on centralized exchanges. No matter how big a centralized exchange is its always not advisable to keep your money there. As much as the SVB drama is an unfortunate event, lets hope it helps people in crypto to understand that they can't completely trust centralized exchanges.

AmoreJaz

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Quote from: coupable on March 15, 2023, 11:30:18 AM

It must be recognized that each type of platform has its advantages and disadvantages.
Unlike centralized exchange platforms, decentralized cryptocurrency trading platforms lack a number of useful features such as stop loss, margin trading, and others. These features are not added by decentralized exchanges, but centralized ones already boast of these features. These features also can be a major hindrance in a trader's performance.
Centralized platforms are also easier to use than decentralized platforms where users have to navigate through dozens of smart contracts. This can be an inconvenience, even for experienced users.

what we can do as consumers of this market is to take advantage of the opportunities offered by DEXs and CEXs platforms. yes, both have their pros and cons and let us accept the fact that we need both of them in our trading journey as there are some features that we can get from CEXs that DEXs don't have and vice versa. as a user, you are the only one who can limit your transactions in both platforms.

pergola

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Only Bitcoin can achieve ultimate decentralization. Projects that revolve around stablecoins offer no security because they are pegging value to the dollar. Even defi has had too many errors leading to losses for investors. Only investing in Bitcoin and taking full security measures is the only way for your assets to grow steadily. But only if it follows the stock-to-flow pattern. Once the pattern is broken watch out.

Hispo

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This will inneed be a lesson for people, mostly for retailers and not CEO's behind crypto-projects.
One is expecting to hold dollars in a secure decentralized way, but when we talk about those full-backed assets, in reality there is not much difference from the risk of having one's money in the bank.

There is actually a disadvantage, since in this case, one (as final user) does not have a say on what bank to trust.

On the increase of volume, besides increasing from people trying to swap their tokens for other reliable coins on Uniswap, the volume could be also be due to people trying to pocket a buck, speculating on the value of USDC and arbitrage.

coupable

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It must be recognized that each type of platform has its advantages and disadvantages.
Unlike centralized exchange platforms, decentralized cryptocurrency trading platforms lack a number of useful features such as stop loss, margin trading, and others. These features are not added by decentralized exchanges, but centralized ones already boast of these features. These features also can be a major hindrance in a trader's performance.
Centralized platforms are also easier to use than decentralized platforms where users have to navigate through dozens of smart contracts. This can be an inconvenience, even for experienced users.

Flexystar

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This news is really interesting and should excite the crypto lover a lot. Since we know that the crypto space is all about a decentralized environment and everything is trusted on the public ledger, the same thing was proven by the recent event of US bank collapse that happened recently. SVB lost its major players which were mostly centralized exchangers.

This followed the collapse of USDC the second-largest accepted stablecoin in the market. It lost its dollar ratio and had highly unstable circumstances.

Soon after the market got aggregated a whopping 25 billion dollars worth of volume is getting traded or exchanged over a decentralized market. This is recorded high all the way after 2021 trading volume. This is a clear indication that whenever a centralized market is baffled people are moving to a decentralized market to secure their funds.

It's clear that if the centralized market is relying on the banks then their funds are not secure and it could create a chaotic situations like FTX and thus everybody thinks their funds are not safe at all.

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Decentralized crypto exchanges facilitated a record high $25 billion of daily trading volume on Saturday, according to Defi Llama data.
The previous high of $24.3 billion was in May 2021, when bitcoin (BTC) was worth roughly $65,000 and ether (ETH) $4,400.
Trading activity surged on a wave of panic as USD Coin (USDC), the second-largest stablecoin, lost its peg to the dollar following a short-lived banking crisis in the U.S.

The majority of trades took place on decentralized exchange Uniswap, with weekly volume of $31.7 billion. On the Curve protocol, meanwhile, traders rushed to flee USDC – a move that prompted an unbalancing of the protocol's equally weighted stablecoin liquidity pool.
Circle, the company that issues USDC, calmed concerns by reiterating that every USDC token remained backed by one U.S. dollar, despite having $3 billion in exposure to the troubled Silicon Valley Bank.
Volume across the decentralized finance (DeFi) sector has remained high in the wake of the depegging with a weekly increase of 255%, according to Defi Llama.
Traders' confidence in USDC was demonstrated by a surge in on-chain leveraged positions, with $70 million being at risk of liquidation if the stablecoin was to lose its peg again.

Decentralized Exchanges Posted Record $25B Daily Volume as USDC Depegged

Topic: Finally they understand the value of Decentralization ! (Read 260 times)