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DeFi could overtake CeFi in the next bull run: CZ

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  • CZ called the ruling “extremely positive”.
  • The DEX share of the total crypto spot trading market rose to 17.7%.

Decentralized Exchange (DEX) Uniswaps [UNI] The recent legal victory was unanimously applauded by the crypto community, and more specifically by the proponents of decentralized finance (DeFi).

Is your wallet green? View the UNI Profit Calculator

The final verdict, based on developers’ lack of blame for criminal actors’ use of decentralized networks, was seen as a key bullish trigger for DeFi investment going forward.

CZ gives a thumbs up to DeFi

The last to acknowledge the importance of the event was none other than Binance CEO Changpeng “CZ” Zhao. In a recent AMA session hosted on Twitter, the crypto czar called the ruling “extremely positive.”

CZ was responding to a question from an X user, DeFi Vas. About 7:05 minutes into the AMA, he said:

“A developer writing code is basically freedom of speech. So I think that development is very good.”

The Binance boss went on to voice his support for DeFi and predicted big wins for the sector in the near future.

About 7:20 minutes into the AMA, he said:

“As I’ve said many times before, I think DeFi is the future. I think DeFi volumes are somewhere between 5 and 10% of CeFi volumes, which is not small. The next bull run could very well make DeFi bigger than CeFi.”

Uniswap leads the charge

CZ’s claim was rooted in the industry’s latest exploits. The largest and most popular DEX Uniswap outperformed centralized behemoth Coinbase in terms of spot trading volumes in the first two quarters of 2023.

At the time of writing, DEXs have recorded transactions worth nearly $12 billion in the past week, according to DeFiLlama. The DEX share of the total crypto spot trading market was 17.7%.

See also  Ethereum: DeFi sector is growing, but is it enough?

Uniswap accounted for 43% of the total share and was in fact the only major DEX to see a weekly increase in volume.

Source: DeFiLlama

How much are 1,10,100 UNIs worth today?

In a blog post, Uniswap stated that it would roll out its next iteration, V4, after the Ethereum [ETH] Dencun upgrade.

Uniswap unveiled V4’s vision earlier this year, which would advance things further by introducing the idea of ​​adjustable liquidity through the use of hooks.



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