TL;DR
In Feb, DEXs had been accountable for 4.6% of all crypto buying and selling quantity — immediately, it has risen to 7% (marking a 52% enhance) — all because of enhancements in UI, worth, and optionality.
Full Story
Within the lengthy and winding listing of ‘unhealthy 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 most costly cellphone on the earth!
…and it does not enchantment to enterprise clients 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 consumer interface was second to none, and its app library was world class.
And now we’re beginning to see an identical 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 had been permissionless (no having to add your ID, tackle, and cellphone quantity to some unknown server that can outlast humanity)
Self custody got here as normal (you held custody of your crypto as an alternative of the alternate)
Exterior of that, they had been ridiculously exhausting to navigate for first-time customers, and their charges weren’t aggressive.
However of late, that’s began to vary throughout the board — and DEXs aren’t solely competing on ease-of-use and worth, 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 all the hottest new low-cap cash/tokens that you simply hear of us 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 had been accountable for 4.6% of all crypto buying and selling quantity. Right now, it’s 7% — marking a 52% enhance.
And positive, 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 turning into seen as the higher choice throughout the board.
