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DEX or better known as Decentralized Exchange is a P2P exchange that facilitates traders to make crypto buying and selling transactions decentralized. Generally, buying and selling cryptocurrencies are usually carried out through the help of third parties (CEX), but in a decentralized system, transactions between sellers and buyers occur directly without a third party.
In 2023, one of the crypto asset managers made predictions about the possibilities that could occur in 2023. One of them that interested me was “Uniswap’s trading volume prediction can pass Coinbase’s trading volume”.
Uniswap is a popular decentralized trading protocol, known for its role in facilitating the automated trading of decentralized finance (DeFi) tokens. Uniswap is quite popular on Etherium, Arbitum, Matic
The possibility that uniswap trading volume could pass Coinbase is predicted to occur in Q4 2023.
Looking at the amount of trading volume I got from Coinmarketcap:
Trading Volume on Centralized Exchange (CEX)
Trading Volume on a Decentralized Exchange (DEX)
Uniswap is below dYdX with a trading volume of around $2 billion. Meanwhile, on the Centralized Exchange, OKX and Coinbase still have trading volume values above Uniswap. Uniswap’s trading volume is still half that of Coinbase.
Is it possible for Uniswap to surpass Coinbase ??? Maybe it can happen because the purpose of cryptocurrency itself is to be free from centralized and free rules.
Technical analysis
Technically, Uniswap may be heading towards the $12.8 price level. News about inflation starting to fall to 6.5% might strengthen Uniswap’s move to touch that price level.
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