Decentralized exchanges are often seen as an integral part of the crypto industry. As such, over the years more and more DEXs have been launched on Ethereum and other blockchains. But why are DEXs actually getting so much attention from investors? Here are some reasons:
Many DEXs are solving the liquidity limitations that have curtailed their growth for years.
DEXs are seen by crypto traders as safer and more private compared to central exchanges.
Growth in DEX trade volume is going to keep rising in the near future.
Well, for investors looking for the best Ethereum-based DEXs to invest in, we have three coins below that should be perfect.
UniSwap (UNI)
Uniswap (UNI) is the king of DEXs. It was in fact one of the first such platforms to be built on Ethereum. Other DEXs have followed suit, but most are modeled behind the UniSwap original concept.
Data Source: Tradingview
At the moment, Uniswap remains the biggest DEX on Ethereum. It also recorded nearly $51 billion in trade volume in January, one of the highest in the market. If you are looking for a tried and tested DEX with a proven track record of success, Uniswap is just perfect.
dYdX (DYDX)
dYdX (DYDX) is designed for derivative traders. It offers access to a huge range of perpetual contracts and futures on several crypto assets. It is also fast, secure, and offers lower fees compared to many derivative trading platforms out there. On average, the platform gets around $6.5 billion in daily trading volume.
1Inch Network (1Inch)
1Inch Network (1Inch) is a liquidity aggregator and DEX that offers users peer-to-peer crypto trading. It is also providing the infrastructure needed to expand DeFi all over the world. The network offers cross-chain liquidity aggregation and makes it easier for traders to buy and sell crypto assets with very minimal slippage fees.
The post Best Ethereum DEX coins to buy and hold right now appeared first on Coin Journal.
