BNB Chain’s Decentralized Exchange (DEX) Trading Volume Hits Highest Level in Past Year | coindesk JAPAN | Coindesk Japan

Weekly trading volume on the BNB chain’s decentralized exchange (DEX) has reached a one-year high, according to data from DefiLlama.

In the week starting May 7, BNB’s DEX trading volume reached $5.11 billion (approximately ¥700 billion, converted to ¥135 to the dollar), the highest level since early May 2022 (last November, It also climbed to just over $5 billion in the week immediately following the FTX crash.)

The recent increase in trading volume is likely due to the increased popularity of DEXs as US regulators tightened regulations on centralized cryptocurrency (virtual currency) exchanges. In April, DEX Uniswap outperformed centralized exchange Coinbase for the fourth month in a row.

There are several possible reasons behind the further increase. Katie Talati, head of research at cryptocurrency manager Arca, said the BNB chain may be popular with users because of its low transaction fees. He also cited Binance’s popularity among centralized exchanges as another reason.

“It makes sense that users on Binance would then try the BNB chain.”

Charles Story, head of growth at crypto index provider Phuture, agrees, saying, “It’s explained by the number of crypto assets listed on Binance and the marketing efforts from the Binance ecosystem. “There are a lot of projects trying to take advantage of our relationship with Binance,” he added.

Another big factor is Uniswap, the largest DEX by trading volume that entered the BNB chain in March.

The BNB chain, owned by Binance and formerly known as Binance Smart Chain, is now a community-driven decentralized ecosystem, according to the company’s website.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
| Image: DeFiLlama
｜Original: Weekly DEX Volume on BNB Chain Hits Highest in a Year