Welcome to the latest edition of Cointelegraph’s decentralized finance (DeFi) newsletter.
DYdX surpassed Coinbase in daily trading volume for the first time this week. Read on to discover why this was a seminal moment for the project’s founder.
What you’re about to read is the concise version of this newsletter. For the full breakdown of DeFi’s developments over the last week — released with more anticipation than a layer-two airdrop — register below.
dYdX surpasses Coinbase in trading volume for first time
Decentralized derivatives exchange dYdX has risen to prominence through 2021 as an alternative to the hegemony and governmental transparency of centralized exchanges. It was revealed that dYdX surpassed the daily trading volume of crypto exchange stalwart Coinbase for the first time in its history.
Analytical data from CoinGecko revealed that dYdX facilitated in excess of $4.3 billion trading activity on Sept. 26, eclipsing Coinbase’s output of $3.7 billion by almost 15%.
This marks a full-circle moment for dYdX founder Antonio Juliano, who previously applied his