TL;DR
In Feb, DEXs have been answerable for 4.6% of all crypto buying and selling quantity — as we speak, it has risen to 7% (marking a 52% improve) — all due to enhancements in UI, value, and optionality.
Full Story
Within the lengthy and winding listing of ‘dangerous takes’ all through tech historical past, Steve Ballmer’s response to the launch of the iPhone has gotta be prime 10.
(And we’ll die on this hill).
“$500 absolutely sponsored with a plan?? I stated that’s the costliest cellphone on the earth!
…and it does not attraction to enterprise prospects as a result of it does not have a keyboard.“
As all of us now know — none of that mattered.
The iPhone’s touchscreen keyboard labored properly sufficient for e-mail, the person interface was second to none, and its app library was world class.
And now we’re beginning to see an analogous shift in customers between centralized exchanges (CEXs) and decentralized exchanges (DEXs)
For the longest time, DEXs actually solely had two issues going for them:
They have been permissionless (no having to add your ID, deal with, and cellphone quantity to some unknown server that may outlast humanity)
Self custody got here as customary (you held custody of your crypto as a substitute of the change)
Outdoors of that, they have been ridiculously arduous to navigate for first-time customers, and their charges weren’t aggressive.
However of late, that’s began to alter throughout the board — and DEXs will not be solely competing on ease-of-use and value, however…
They’re additionally having their ‘App Retailer second.’
CEXs can’t/gained’t listing the vast majority of new tokens and memecoins proper out of the gate due to regulatory restrictions.
So the entire hottest new low-cap cash/tokens that you just hear people making life altering cash on, throughout X (Twitter)? That’s all occurring on DEXs.
(Identical to all of the app growth was occurring on iPhone circa 2009).
Consequently, we’re seeing a large uptick in DEX utilization.
In Feb, DEXs have been answerable for 4.6% of all crypto buying and selling quantity. In the present day, it’s 7% — marking a 52% improve.
And certain, a leap from 4.6% to 7% may not really feel like loads…
However neither did the iPhone’s transfer from 3.5% of smartphone market share, to five.4% (again in ‘07 / ‘08).
The takeaway:
DEXs are rapidly changing into seen as the higher possibility throughout the board.
