After the 1000th China’s crypto “ban” decentralised exchanges are booming. Looks like perhaps Chinese traders are showing a middle finger to new regulations?

After the 1000th China’s crypto “ban” decentralised exchanges are booming. Looks like perhaps Chinese traders are showing a middle finger to new regulations?

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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:

https://preview.redd.it/imoyz0yjo2q71.png?width=1766&format=png&auto=webp&s=b79823f4e2723a846e8363a29c40c39660772595

1inch is up +281% in daily trading volume:

https://preview.redd.it/dslw9juso2q71.png?width=1833&format=png&auto=webp&s=7d3a52482e255a84f9cba80d2e5dcdc96803bae3

BabySwap (never heard of them) +257%

https://preview.redd.it/kea5sfkvo2q71.png?width=1828&format=png&auto=webp&s=a61fd3fab1e493cd780b6a86e6be337d298c8c8a

And some data from yesterday’s screenshot I took:

Uniswap +27%

PancakeSwap +41%

SushiSwap +60%

https://preview.redd.it/8jawdmq3p2q71.png?width=456&format=png&auto=webp&s=672794595aa93948eec3e75b31f4d2ffdf7501fc

https://preview.redd.it/yuqnt5iip2q71.png?width=445&format=png&auto=webp&s=7b5c27a6ce88dc0c7531c2e2156beaf199b86841

submitted by /u/rootpl
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