Connect with us
Active Currencies 14413
Market Cap $2,678,845,520,328.30
Bitcoin Share 49.77%
24h Market Cap Change $-1.54

DeFi could overtake CeFi in the next bull run: CZ

2min Read

The latest to acknowledge the importance of Uniswap’s recent legal victory was Binance CEO Changpeng “CZ” Zhao.

DeFi could overtake CeFi in the next bull run: CZ

Share this article

  • CZ called the ruling as “extremely positive”.
  • DEX share in the total crypto spot trading market rose to 17.7%.

Decentralized exchange (DEX) Uniswap’s [UNI] recent legal victory was unanimously hailed by the crypto world, and more specifically, the decentralized finance (DeFi) proponents.


Is your portfolio green? Check out the UNI Profit Calculator


The decisive verdict, based on developers’ non-culpability for criminal actors’ usage of decentralized networks, was being seen as a major bullish trigger for DeFi investments in the future.

CZ gives thumbs up to DeFi

The latest to acknowledge the importance of the event was none other than Binance CEO Changpeng “CZ” Zhao. In a recent AMA session hosted on Twitter, the crypto czar called the ruling as “extremely positive”.

CZ was responding to a question by an X user, DeFi Vas. At about 7:05 minutes into the AMA, he said,

“A developer writing code is basically free speech. So, I think that that development is really good.”

The Binance boss then went on to express his support for DeFi and predicted big wins for the sector in the near future.

At about 7:20 minutes into the AMA, he mentioned,

 “As I have said many times before, I think DeFi is the future. I think DeFi volumes are like somewhere between 5 to 10% of CeFi volumes which is not small. The next bull run may very well make DeFi bigger than the CeFi.”

Uniswap leads the charge

CZ’s assertion was rooted in the industry’s latest exploits. The largest and most popular DEX Uniswap outperformed centralized behemoth Coinbase in spot trading volumes in the first two quarters of 2023.

As of this writing, DEXs recorded trades worth nearly $12 billion over the last one week, according to DeFiLlama. DEX share in the total crypto spot trading market was 17.7%.

Uniswap accounted for 43% of the total share and was in fact the only major DEX to have seen a weekly increase in volumes.

Source: DeFiLlama


How many are 1,10,100 UNIs worth today?


In a blog post, Uniswap stated that it would roll out its next iteration, V4, after the Ethereum [ETH] Dencun upgrade.

Uniswap unveiled the vision of V4 earlier in the year, which was set to advance things further by introducing the idea of customizable liquidity through the usage of “hooks”.

Share

Aniket Verma works as a journalist at AMBCrypto. Contrary to most who are primarily interested in merely tracking price movements of cryptos, his focus is on examining the niche intersection between cryptocurrencies and traditional finance. A so-so Bitcoin maximalist, Aniket has a strong disdain for memecoins and the unfounded frenzy they seem to generate every market season. Coming from a strong engineering background, Aniket previously worked as a Content Manager for TV9 Network. Before his stint over there, he was an Associate Multimedia News Producer at Reuters.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.