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Bitcoin.org’s Cobra says decentralized exchanges are going to explode in popularity soon

Akash Anand

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Bitcoin.org's Cobra: 'Decentralized exchanges are going to explode in popularity soon'
Source: Pixabay

The updates and developments in the world of cryptocurrencies have been guided by the proponents in the field, either because of their comments or due to their contributions to specific cryptocurrencies or networks. A popular trend that had picked up last year was the concept of decentralized exchanges, which was in the limelight because of the launch of Binance’s DEX.

The latest proponent to come out in support of decentralized exchanges was Cobra, the co-owner of the Bitcoin.org who claimed that 2019 was the glory year for them. Cobra’s tweet read:

“Decentralized exchanges are going to explode in popularity very soon. 2018 was the year of stablecoins which was the last step to make it possible for DEXs to interact with fiat. Coming regulation, burdensome KYC, exchanges being seen as “kingmakers”, all will push users to DEXs.”

The exchange being termed as ‘kingmakers’ can be attributed to the recent decision taken by the Changpeng Zhao-led Binance to delist Bitcoin SV [BSV]. Cobra was not the only proponent in the space who was critical of the delisting as earlier, Jimmy Song, a long-standing critic of Bitcoin SV shunned Binance’s decision. He stated:



“Unpopular opinion: Delisting coins is satisfying short term, but ultimately bad. It’s giving the perception that exchanges are king-makers or legitimatizers. They are not.”

Another proponent who echoed Song’s sentiment was Nic Carter, who pointed out that a ‘fraud’ should not be the deciding criteria for any delisting process. He had mentioned:

“If fraud from the chief promoters is sufficient reason for delisting from Binance… almost everything should be delisted. We’re still in the wild west era of cryptocurrency, like it or not totally unregulated, unaccountable exchanges are the kingmakers. I for one am excited for this to change.”

A positive push in terms of decentralized exchanges was given by Binance’s DEX mainnet launch announcement. The organization stated that they plan to execute the Mainnet swap on April 23 of this year.





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Altcoins

Tron [TRX] DApps surpass Ethereum, EOS in terms of weekly active and new users

Namrata Shukla

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Tron [TRX] DApps surpass Ethereum and EOS in terms of Weekly active and new users
Source: Pixabay

Tron [TRX], the eleventh largest coin on CoinMarketCap, has been crossing new milestones recently, with its block height and partnerships. Despite the coin performing rather poorly in a relatively bullish market, its adoption and the popularity of its DApps have made Tron lead the DApps market.

Tron’s popular proponent, Misha Lederman, shared with the community Tron’s recent achievement. Compared to Ethereum [ETH] and EOS, Tron registered a higher number of new users and active users. It noted 60k new users, while Ethereum reported 25K and EOS reported 9k. The active users on Tron’s DApps platform were 172k, followed by EOS with 170k and ETH with 54k.

Lederman in his tweet commented,

“#TRON growing fastest in terms of new users among Top 3 platforms:
New Users:
TRON 60K; #ETH 25K; #EOS 9K
Active Users:
TRON 172K; EOS 170K; ETH 54K”

Source: Twitter

Source: Twitter

He added that BitTorrent Speed’s launch in Q2 would provide Tron and BitTorrent users with BTT as an incentive for seeding, which might lead to a growth in the user base of TRX and BTT.



Source: Twitter

Source: Twitter

According to Tron foundation and BitTorrent CEO Justin Sun, TRX will make its way into the top 10 by the end of June, whereas BTT will be a part of top 30 by Q2. However, Tron’s current market cap is $1.87 billion, whereas Cardano [ADA] on the tenth position reported a market cap of $2.12 billion.

At press time, Tron was valued at $0.0279, with a market cap of $1.87 billion. The 24-hour trading volume of the coin was noted to be $664 million, as it fell by 2.80% in a day. TRX managed to register 12.60% growth over the past seven days. However, it fell by 0.53% in an hour.





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