Binance DEX Ranking Rapidly Rises on CoinMarketCap as Looks to Top All Decentralized Exchanges
- Over the course of the past week, the decentralized exchange was able to register a total trade volume of over USD $10 million.
- Since its release back in April 2019, Binance DEX has already scaled up to the 98th spot amongst all crypto exchanges listed on CMC.
As the crypto market continues to witness steady growth with each passing day, it comes as no surprise that Binance’s latest decentralized exchange offering ‘Binance DEX’ — which was released earlier this year in April — has already whizzed past its closes rivals in terms of overall trade volume.
From a technical standpoint, we can see that Binance DEX is currently ranked at the 98th spot on CoinMarketCap’s list of exchanges — with the trading platform registering a 24-hour tx volume of around $9.13 million.
- Over the course of the past seven days, Binance DEX registered a trading volume of over $10.30 million
- Similarly, during the last 30-days, the decentralized exchange noted a total tx throughput of $10.36 million.
- Since yesterday afternoon, Binance DEX has witnessed a growth ratio of 596.98%.
In regards to all of these developments, an independent Twitter analyst was quoted as saying:
“So @Binance_DEX just did more volume in 5 hrs than the 2nd biggest DEX did in the last 24”
While the global crypto community at large has been celebrating Binance DEX’s latest achievements, there were some analysts who were skeptical of the exchange’s mammoth overnight growth.
“Rename it into Binance_FRD. Because it’s fraud to name it as “DEX”. No different from scammers like Craig or Ver, same scheme.”