Dex Volume Hits Over $1T in August: Why Best Wallet Token Stands To Gain
The decentralized change (DEX) market has simply reached a historic milestone, with over $1.15 trillion in quantity processed throughout August.
DefiLlama knowledge exhibits that is the primary month the place mixed spot and perpetual contract volumes have exceeded $1 trillion in monthly activity.
Spot DEX volumes hit $506B in August, whereas perpetual contract volumes rose to over $648B, reaching an all-time high for this class.
The DEX market stays robust as Web3 turns into extra accessible, because of apps like Best Wallet.
Best Wallet supplies a straightforward method to convert fiat by way of a cellular app, together with integration with a number of DEXs for a clean crypto expertise.
We’ll talk about why the $BEST token is the easiest way to purchase and promote crypto by the Best Wallet app, however first, we’ll take a more in-depth have a look at the DEX market.
Which DEXs are Seeing the Most Volume?
Uniswap stays the highest spot DEX with over $143B in complete quantity processed throughout August, accounting for 28.2% of the month’s complete spot quantity. PancakeSwap is in second place with practically 3 times much less quantity at $56.6B, whereas HyperLiquid ranks third with $21.7B.
The enhance in spot quantity raised the DEX-to-CEX buying and selling ratio to 17.2% in August, indicating a rising curiosity in token swaps achieved totally on-chain. The DeFi market cap now stands at $160 billion and continues to develop as extra customers be part of the DeFi area.
Best Wallet is about to reap the benefits of a robust DEX market, starting to compete with institutional CEXs. Let’s be taught extra about how Best Wallet ($BEST) makes integration with DEXs simpler.
Best Wallet – A Cross-Chain Wallet Built for the Mobile-First Generation
Best Wallet Token ($BEST) is Best Wallet’s official token, a mobile-first crypto pockets that works throughout a number of blockchains with native DEX help.
Best Wallet surpasses older wallets like MetaMask by consolidating your whole crypto portfolio into one app, lowering the necessity to swap between totally different blockchains equivalent to Ethereum and Solana.
It additionally provides you entry to an unique token launchpad to take part in presales for upcoming crypto tasks earlier than they’re obtainable on CEX and DEXs.
Regarding safety, Best Wallet employs Fireblocks MPC-CMP to guard your pockets from crypto theft. It’s simple to again up your pockets to the cloud throughout the app and restore it at any time when wanted. If you’re , you’ll be able to attempt it out your self – Best Wallet is already obtainable on Google Play and the Apple App Store.
Best Wallet improves with $BEST. It lowers your transaction charges when swapping crypto, helps you to vote on new blockchain help from the Best Wallet DAO, and provides you early entry to unique new presale tokens earlier than they’re extra extensively obtainable.
There are enticing staking rewards obtainable if you happen to purchase $BEST now. You can stake and earn returns of as much as 86% yearly. Act shortly, as over $15.4 million price of $BEST has already been reserved through the presale, pushing costs as much as $0.025575. We additionally created a helpful guide on how to purchase $BEST.
Purchase $BEST today before the presale ends.
What’s Next For DEXs
The rise in decentralized change (DEX) quantity signifies a rising demand for token swaps and leveraged crypto buying and selling, notably in perpetual futures. Any cryptocurrency challenge that may scale back the boundaries to entry for the DEX market is more likely to be shortly embraced by customers desperate to reap the benefits of a thriving market, particularly those that could be not sure of how you can start.
That’s why we’re so enthusiastic about $BEST. As the official token of Best Wallet, it’s anticipated to learn considerably from a bigger DEX market by permitting customers to scale back their crypto swap charges.
All crypto merchandise are unstable. Make positive to all the time do your individual analysis earlier than investing and solely make investments what you’re ready to lose. This article isn’t monetary recommendation.
Authored by Aaron Walker, NewsBTC – www.newsbtc.com/news/dex-volume-hits-one-trillion-monthly-mark-big-for-best-wallet
