• Coin Market Cap
  • Contact Us
  • Privacy & Policy
Tuesday, March 2, 2021
Litecoin.is
  • Home
  • Litecoin
  • Bitcoin
  • Blockchain
  • Coin Market Cap
  • Exchange
  • ICO
No Result
View All Result
  • Home
  • Litecoin
  • Bitcoin
  • Blockchain
  • Coin Market Cap
  • Exchange
  • ICO
No Result
View All Result
Litecoin.is
No Result
View All Result
Home Litecoin

DeFi aggregator growth ‘set to dwarf 2020’s volume’

February 18, 2021
in Litecoin
0
DeFi aggregator growth ‘set to dwarf 2020’s volume’
189
SHARES
Share on FacebookShare on TwitterPin it

Related articles

TON investor demands $100M compensation from Durov

March 2, 2021
MoneyGram faces lawsuit over alleged false statements regarding XRP

MoneyGram faces lawsuit over alleged false statements regarding XRP

March 2, 2021

Decentralized finance aggregators are growing in popularity in 2021 as the embryonic industry continues to expand.

Delphi Digital analyst Ashwath Balakrishnan has observed that year-to-date growth for DeFi aggregators puts the sector on track to dwarf 2020’s figures.

The researcher noted 1inch, Matcha, and Paraswap facilitated a total $9.3 billion of volume across 2020 — but that as of Feb. 16, the 1inch exchange alone had recorded close to $10 billion in volume in just the first 46 days of 2021.

1/ Aggregators had a breakout year in 2020, with platforms like @1inchExchange and @zapper_fi recording significant growth

The best part? YTD numbers indicate 2021’s growth is about to dwarf 2020’shttps://t.co/MC4ZlkEzVo

— Ashwath Balakrishnan (@ashwath_22) February 17, 2021

With liquidity being the lifeblood of decentralized finance markets, competition for collateral increases, and a market for aggregators to improve user experiences has emerged.

A DeFi aggregator is a platform that gathers information and prices from various other exchanges and automated market makers and presents them on one single interface. High gas fees and DEX trading commissions have also prompted users to seek out aggregators to get the best rate for their token swaps.

Some of the most popular, and fastest-growing, include the 1inch exchange, Matcha, and Paraswap. 1inch aggregates liquidity from over 20 decentralized exchanges according to the researcher.

According to Dune Analytics data, the number of new users, daily transactions, and volumes have surged since the beginning of the year. From $325 million per week in mid-December, 1inch is now processing 450% more, with $1.8 billion recorded for the week ending Feb. 14. 

Balakrishnan noted that Matcha, which uses the 0x protocol, is also becoming a “hotspot for DeFi traders thanks to its sleek UI.” The aggregator has grown from averaging $1 million in daily volume in its first month, July 2020, to over $40 million a day, in January 2021.

The researcher noted that aggregators often provide better token swap rates on smaller DEXes and do not always default to the largest ones;

“Uniswap and Sushiswap lead general purposes DEXes in volume and liquidity. But if you’ve used an aggregator for fairly large trades, you would notice you get routed to other DEXes too,”

He added that 38% and 36% of volume on Kyber Network and Bancor respectively has come from 1inch between December 2020 and January 2021. This is due to Bancor’s single-sided AMM and Kyber’s quote-based model being more efficient for larger trades, he added.

Other DeFi aggregators such as Zapper.fi and Zerion.io provide vast improvements to user experience, aiming to become the “front page of DeFi”. These have also seen huge growth as yield farmers and token swappers seek the best deals on the market.


Credit Source link

ADVERTISEMENT
Share76Tweet47Pin17
ADVERTISEMENT

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

TON investor demands $100M compensation from Durov

March 2, 2021
MoneyGram faces lawsuit over alleged false statements regarding XRP

MoneyGram faces lawsuit over alleged false statements regarding XRP

March 2, 2021
Coinbase custodies 11% of entire crypto capitalization

Coinbase custodies 11% of entire crypto capitalization

March 2, 2021
DOGE is now supported at 1,800 ATMs in 45 US states

DOGE is now supported at 1,800 ATMs in 45 US states

March 2, 2021
Matic, xDai (STAKE) and Loopring (LRC) rally as Ethereum gas fees rise

Matic, xDai (STAKE) and Loopring (LRC) rally as Ethereum gas fees rise

March 1, 2021
Key Bitcoin price indicators signal bulls bought the $43K retest

Key Bitcoin price indicators signal bulls bought the $43K retest

March 1, 2021
Litecoin.is

Litecoin.is an online NEWS portal which aims to provide the latest trendy news around the crypto market and much more exciting stuff.

Topic to cover

  • Bitcoin
  • Blockchain
  • Litecoin

Whats NEW here?

  • TON investor demands $100M compensation from Durov
  • MoneyGram faces lawsuit over alleged false statements regarding XRP
  • Coinbase custodies 11% of entire crypto capitalization

  • Coin Market Cap
  • Contact Us
  • Privacy & Policy

© 2019 Litecoin.is – All about Litecon NEWS and more!

No Result
View All Result
  • Home
  • Litecoin
  • Bitcoin
  • Blockchain
  • Coin Market Cap
  • Exchange
  • ICO

© 2019 Litecoin.is All about Litecoin And Crypto News!.

  • bitcoinBitcoin(BTC)$49,175.003.69%
  • ethereumEthereum(ETH)$1,571.073.70%
  • rippleXRP(XRP)$0.4444172.91%
  • eosEOS(EOS)$3.775.58%
  • litecoinLitecoin(LTC)$182.497.21%
  • bitcoin-cashBitcoin Cash(BCH)$538.3211.57%
  • tetherTether(USDT)$1.00-0.27%
  • stellarStellar(XLM)$0.4262563.03%
  • Binance CoinBinance Coin(BNB)$252.095.94%
  • tronTRON(TRX)$0.0480643.38%
  • cardanoCardano(ADA)$1.24-1.90%
  • Bitcoin SVBitcoin SV(BSV)$188.454.06%
  • iotaIOTA(MIOTA)$1.220.53%
  • moneroMonero(XMR)$226.554.30%
  • dashDash(DASH)$226.396.49%
  • neoNEO(NEO)$38.612.35%
  • ontologyOntology(ONT)$0.912.35%
  • nemNEM(XEM)$0.7317.10%
  • zcashZcash(ZEC)$124.606.52%
  • USD CoinUSD Coin(USDC)$1.000.09%
  • dogecoinDogecoin(DOGE)$0.0510141.64%
  • bitcoin-goldBitcoin Gold(BTG)$27.146.89%