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Significant head effect of decentralized exchanges, Newdex accounts for 70% of trades in EOS ecosystem

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Significant head effect of decentralized exchanges, Newdex accounts for 70% of trades in EOS ecosystem
Source: Newdex

TokenInsight published a 2018 Cryptocurrency Exchange Annual Report, pointing out the present situation of decentralized exchanges: the trading volume of decentralized exchanges highly concentrated on the leading exchanges, on either ETH or EOS. The trading volume of several leading exchanges accounts for more than 80% overall. Newdex even shares more than 70% trades among the whole market on EOS.

Source: TokenInsight

Source: TokenInsight


Newdex has surpassed IDEX on daily active users volume and daily trading volume, becoming the world’s largest decentralized exchange on volume.
How are EOS Decentralized Exchanges Built?
The most highlighted character of decentralized exchange is the trading experience that allows users to skip registration, deposit and withdrawal.
Wallet code scanning exchange of Newdex includes two parts: scanning login and scanning exchange. Users only need to own a mobile wallet to trade by scanning code on Newdex Web without registration. Or they can login on the Embedded Newdex within wallets to trade, saving the bother of operating on computer.
Currently, Newdex has cooperated with 26 wallets worldwide. You can find Newdex in loads of wallets across the whole EOS ecosystem, including Bitpie, imToken and Huobi Wallet.

The exchange focuses on quoted depth, and the wallets are responsible for the liquidity portal, on the basis of which user resources are shared.
Prospect for Decentralized Exchanges: Mining Incremental Markets, Newdex Launches Membership System
Despite the strong growth of decentralized exchanges, their trading volumes were less than 2% of centralized exchanges. Which means users of decentralized exchanges still remain in the minority.
To keep its users, Newdex launched a membership system to provide users benefits and privileges. Users will be able to enjoy different trading fee discounts and exclusive airdrops by staking NDX [Newdex Platform Token].
Newdex is the first decentralized exchange to launch the membership system.

Biraajmaan covers market trends of major cryptocurrencies. As a graduate in engineering, his interests lie in Blockchain technology. With over a year as a journalist, his articles focus on US and UK markets.

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