What number of Decentralized Exchanges are there | by 1inch Alternate | Decentralized Alternate

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Decentralized exchanges (DEXs) have grown in recognition over the previous few years as they provide a safer and trustless approach of buying and selling cryptocurrencies. With the rise of decentralized finance (DeFi), the variety of DEXs has additionally elevated considerably. On this article, we’ll discover what number of decentralized exchanges are at present working.

How many Decentralized Exchanges are there
What number of DEXs?

As of January 2023, there are over 250 decentralized exchanges working globally, in response to information from DEX.AG, a DEX aggregator. This quantity contains each established and rising DEXs throughout totally different blockchain networks, reminiscent of Ethereum, Binance Good Chain, Polygon, and Solana.

The vast majority of decentralized exchanges are constructed on the Ethereum community, which has been a well-liked platform for decentralized purposes and good contracts. A few of the well-liked Ethereum-based DEXs embody Uniswap, SushiSwap, Curve Finance, and Balancer. These DEXs have gained vital traction within the DeFi house and have contributed to the expansion of the decentralized finance ecosystem.

Along with Ethereum, Binance Good Chain has additionally emerged as a well-liked platform for constructing decentralized exchanges. Binance Good Chain is a high-performance blockchain that helps the Ethereum Digital Machine (EVM) and is appropriate with the Ethereum community. A few of the well-liked Binance Good Chain-based DEXs embody PancakeSwap, BurgerSwap, and ApeSwap.

Different blockchain networks which have seen the emergence of decentralized exchanges embody Polygon (previously Matic), Solana, and Avalanche. These networks have gained recognition because of their excessive throughput, low charges, and quick transaction occasions.

It’s value noting that the variety of decentralized exchanges is continually altering as new DEXs emerge and current ones shut down. Some DEXs can also transition to a centralized mannequin or stop operations altogether because of varied elements reminiscent of regulatory pressures or lack of adoption.

Regardless of the growing variety of DEXs, the full buying and selling quantity on decentralized exchanges continues to be comparatively small in comparison with centralized exchanges. Based on information from CoinGecko, the every day buying and selling quantity on decentralized exchanges is round $6 billion, whereas centralized exchanges see a every day buying and selling quantity of over $300 billion. Nevertheless, the pattern is progressively altering as extra customers undertake decentralized exchanges, and the DeFi ecosystem continues to develop.

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