DeFi

Perp DEX Trading Volume Hits New Highs with 395% YoY Increase

Published

9 months ago

7 May, 2024

Perp DEX trading volume hits new heights with 395% annual surge

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Decentralized perpetual contract exchanges (perp DEXs) saw record monthly trading volume in March at $317 billion, according to to the data aggregator DefiLlama. Despite a slight decline in April to $304 billion, volume managed to stay above the $300 billion mark and represents 395% year-over-year growth.

Imran Mohamad, Marketing Director at Zeta Markets, highlights various reasons behind the growing momentum of the perp DEX. The first concerns the developments made within the decentralized finance (DeFi) ecosystem since the “DeFi Summer” which took place in 2020.

“I think DeFi Summer has happened, and then you can start to see a lot more DeFi innovation. And I think now you can see that DeFi is starting to gain a lot more importance and interest, especially under the leadership of ecosystems like Solana, where they’re really focusing on a unified user experience and making it easier to integrate people,” Mohamad said. “So you have all of this enabling much more accessible transactions, much more accessible, they allow many more user-facing DApps to work.”

Perp DEX Trading Volume Hits New Highs with 395% YoY Increase Perp DEX monthly volumes. Image: DéfiLlama

Solana posts the highest growth in derivatives trading volume over the past 30 days, with a 244% jump, while it posts the second largest weekly jump. Zeta Markets is the main driver of this growth in the perp DEX sector, as its volume has soared 397% in the last 30 days and 188% in the last week, suggesting gradual and sustainable growth.

Additionally, Mohamad mentions the current airdrop craze and its points system, which consists of protocols rewarding users for interactions with their products. This strategy is commonly applied by perp DEX, and the results can be seen in the Blast numbers of the Ethereum layer 2 blockchain.

Thanks to the point rewards offered by different DEX players in their ecosystem, Blast has managed to skyrocket in derivatives trading and is dominating the weekly volumes for the third week in a row.

“There’s a lot of interest in points from retailers, because people are saying, ‘Okay, if I have points, I understand them, I understand what I need to do.’ Before, it was coded, like hidden messages in what the protocols said. And now, with points, retail users know what they can work with,” shared Mohamad.

Compete with centralized exchanges

The centralized exchanges Binance and OKX were responsible for on $70 billion in derivatives trading volume in the last 24 hours, almost 25% of the April trading volume recorded by perp DEX. This shows how centralized platforms are still much more popular when it comes to derivatives trading.

However, Mohamad sees two DeFi features that could start to attract more retail investors currently using centralized exchanges, the first being self-custody.

“In a centralized exchange, I have no access to or custody of my assets. So no matter what happens, we will never be able to completely prevent another FTX from happening. It’s not because the technology is inefficient. It’s not because regulators can’t do their job. This is because it is an inherent defect of detention.

The second feature mentioned by the Zeta Markets CMO is the ability for users to influence the decisions of perp DEXs via governance tokens. Mohamad uses the native Z token, soon to be launched by Zeta Markets, which will have a voting deposit model allowing users to influence what directly affects them.

“What features should we include?” Where should we direct the rewards? How should we direct rewards? So these are things that, if I am a centralized trader today, I cannot influence. I have no say in how the rewards are distributed. I have no say in what happens in the protocol. I think you see what Jupiter has done with their working group proposals, they’ve done an extremely wonderful job of getting the community involved in the working groups.

Nonetheless, he highlights that DeFi needs to go through multiple developments in its infrastructure to truly compete with the centralized ecosystem, such as lower latency transactions and better price accuracy.

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DeFi

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Published

6 months ago

29 July, 2024

CoinFlix Staff

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.

The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.

Bonk remains strong despite market fluctuations

While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.

Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.

Pepe should see a big rise in the next bull run

Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.

Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.

In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.

Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4

Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.

With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.

Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.

The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.

RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.

Discover the exciting opportunities of the Rollblock (RBLK) presale today!

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DeFi

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Published

6 months ago

29 July, 2024

CoinFlix Staff

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.

Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.

According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.

“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.

I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.

The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.

“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”

I expect them to launch actively managed crypto ETFs [in the] coming years. ”

Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.

“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.

Chasing mass adoption of normies may be chasing the wrong Grail from the start.

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