After the 1000th China’s crypto “ban” decentralised exchanges are booming. I can’t tell for sure where all the trading volume is coming from but I think it’s safe to assume that a lot of those users are from China. Perhaps someone with full access to Glassnode can provide some on-chain data to confirm it? But I don’t think it’s a coincidence that this happened after the “ban”. It’s been on a rise for the last couple of days not just today.
In the last 24h dYdX have seen a +175% increase in trading volume:
1inch is up +281% in daily trading volume:
BabySwap (never heard of them) +257%
And some data from yesterday’s screenshot I took: