Whales Dominate DEXs as High Ethereum Fees Keep Retail Investors at Bay

Posted on by American Coins & Gold

Whales Dominate DEXs as High Ethereum Fees Keep Retail Investors at Bay
Decentralized finance (DeFi) came into existence to democratize finance, much like the internet made content accessible to everyone.However, according to French digital assets data provider Kaiko, the adoption of decentralized exchanges (DEXs) that facilitate peer-to-peer transactions without an intermediary, remains restricted mainly to large traders or whales.“Average trade sizes have increased on all DEXs over the past few months while the actual number of trades has stayed flat, which suggests that the profile of the average trader now skews more whale,” Kaiko said in a weekly research note published on Monday.The average trade size on Curve Finance ranges from $500,000…