TA-Tuesday - Lets check out how the CEX and DEX have done...
Good Morning!
After further regulatory tightening in China, and the subsequent move of users and capital to other venues, I thought it would make sense to create a chart depiction.
I have included larger exchanges that have an exchange token and also decentralised exchanges.
On the right-hand side of the chart, you can see the percentage change since Setpember 8th (this is when there were some first signs of further regulatory tightening). The series follows the name labels at the top of the chart.
The following ranking lists the exchanges with the greatest loss first:
1. Huobi
2. OKEx
3. FTX
4. Binance
5. Bitfinex
6. Sushi Swap
7. Uniswap
8. DYDX
In my view, the main reasons responsible for pushing the price lower were:
- Stricter KYC/AML policies needed
- Leverage restrictions/limitations
- Crypto trading becoming illegal in China
It is no wonder that we are seeing decentralised exchanges profitting from those changes. DYDX is the clear winner due to the fact that they offer derivatives (perpetual futures) with leverage. If those quick gains end up being sustainable only time will tell. I will be following the trading volume numbers of CEX (centralised exchanges) versus DEX (decentralized exchanges) very closely.
After further regulatory tightening in China, and the subsequent move of users and capital to other venues, I thought it would make sense to create a chart depiction.
I have included larger exchanges that have an exchange token and also decentralised exchanges.
On the right-hand side of the chart, you can see the percentage change since Setpember 8th (this is when there were some first signs of further regulatory tightening). The series follows the name labels at the top of the chart.
The following ranking lists the exchanges with the greatest loss first:
1. Huobi
2. OKEx
3. FTX
4. Binance
5. Bitfinex
6. Sushi Swap
7. Uniswap
8. DYDX
In my view, the main reasons responsible for pushing the price lower were:
- Stricter KYC/AML policies needed
- Leverage restrictions/limitations
- Crypto trading becoming illegal in China
It is no wonder that we are seeing decentralised exchanges profitting from those changes. DYDX is the clear winner due to the fact that they offer derivatives (perpetual futures) with leverage. If those quick gains end up being sustainable only time will tell. I will be following the trading volume numbers of CEX (centralised exchanges) versus DEX (decentralized exchanges) very closely.
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