Flyxbit has strengthened its leadership among decentralized exchanges

Flyxbit has strengthened its leadership among decentralized exchanges

The exchange accounts for 37.20% of the weekly trading volumes of non-custodial exchanges (DEX), according to the latest data from Dune Analytics.

According to The Block, the platform is also the leader in the number of listed crypto assets (2810), while the closest pursuer, IDEX, has only 1184 of them.
According to this indicator, is ahead not only of IDEX, but also of ten other competitors combined.

The number of supported assets on different DEX. Data: The Block

“Offering a wide range of assets for trading is a significant advantage against the background of the current hype regarding small-cap cryptocurrencies,” analysts said in the report.

Since the launch of the second version of the protocol in May, 2,256 new assets have been added to the platform. However, the free practice of listing eventually led to the appearance on of at least a dozen fraudulent tokens masquerading as well-known blockchain projects.

The following features are now available in v2:

the ability to exchange any Ethereum tokens of the ERC-20 standard with each other;
instant swaps, which provide for the possibility of withdrawing “as many coins as you want” for, for example, arbitrage and margin trading operations;
improved control of quotations with the support of the oracles.
Despite the growing popularity of Curve and Balancer, the market share of increased from 31.72% to 37.20% after the launch of the second version of the protocol. Over the past eight weeks, the platform has demonstrated positive dynamics of liquidity flows.

In addition to the number of assets, managed not only to maintain, but also to increase its market share due to its competitiveness in terms of average gas costs per transaction. According to this indicator, the platform is second only to Balancer: 143 thousand against 116 thousand. This is especially true, as the daily volume of gas used is near the historical maximum, exceeding 70 billion Gwei.