The post Exploring The Rise Of Decentralized Cryptocurrency Exchanges (DEXs) appeared on BitcoinEthereumNews.com.

The essence of cryptocurrency revolves around decentralization. Recent rises and discussions relating to decentralized exchanges have helped to bring many of the grounding foundations back into focus. They draw so many people to the industry in the first place.  DYDX’s airdrop and the uproar about Hyperliquid’s decision to recently extend its points campaign have injected new capital into crypto. As more money flows in through institutions and retail, DEXs become a more significant part of the conversation. However, what are some other factors causing such a surge in usage? Defining DEXs & Decentralization Decentralized exchanges allow traders to connect their wallets directly to the site. It is the main difference from their centralized counterparts, often overseen by a company, corporation, or controlling entity. It is a reasonably generic oversight and definition. However, some in the industry will draw their own conclusions and lines between what is decentralized and what is not.  XRP is a good example, given that the token’s controlling supply is held in the wallets of Ripple’s two CEOs. Conversely, Bitcoin’s controlling supply is in an anonymous set of wallets that hasn’t been touched in over a decade.  Some traders and analysts argue that these assets could be centralized or decentralized. While we’re sure you have your own opinion on it, the point is that the term itself can be ambiguous. However, any such discussion is healthy for a space that continues to see increasing innovation and capital inflows. DEXs are becoming a growing, positive element of the industry that is sticking to the original decentralized roots. Bull Run Narratives Each bull run has its own narrative. While we aren’t amid the bull run we saw in 2017 and 2021, it does feel like something is brewing. Just recently, Binance’s native token, BNB, silently rose to its highest-ever…

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Filed under: News - @ June 19, 2024 4:18 pm