Market News

Regulatory Pressure on Binance and Coinbase Fuels 444% Surge in DeFi Trading Volumes

The median trading volume across the top three decentralized exchanges (DEX) jumped 444% in the past 48 hours

The recent legal actions taken by the United States Securities and Exchange Commission (SEC) against leading cryptocurrency exchanges Coinbase and Binance have sparked a remarkable surge in trading volumes on decentralized exchanges (DEX).

Over the past 48 hours, the median trading volume across the top three DEX platforms has witnessed a staggering 444% increase, reflecting the growing interest of crypto investors in alternative trading options.

CoinGecko’s data reveals that Uniswap v3 (Ethereum), Uniswap v3 (Arbitrum), and PancakeSwap v3 (BSC), which collectively account for 53% of the total DEX trading volume in the last 24 hours, experienced a significant spike of over $792 million in total daily trading volumes between June 5 and June 7.

In parallel, Curve, a DEX specializing in stablecoin trading, observed a remarkable surge of 328% in trading volume. The platform has seen intensified activity in the trading of popular U.S. dollar-pegged stablecoins such as USD Coin (USDC) and Tether (USDT).

Interestingly, during the memecoin frenzy in May, trading volumes on DEX platforms briefly surpassed those of Coinbase.

This trend emerged as crypto investors sought to acquire tokens like Pepe (PEPE) and Turbo (TURBO) through decentralized protocols since these memecoins were not listed on major centralized exchanges.

As DEX volumes reached new heights, Binance experienced significant net outflows of around $778 million. It’s important to note that despite these outflows, Binance still maintains a substantial reserve, with a stablecoin balance exceeding $8 billion at the time of writing.

The recent regulatory actions by the SEC have evidently prompted crypto investors to explore decentralized alternatives for trading and liquidity provision.

DEX platforms offer greater decentralization, transparency, and resilience to regulatory scrutiny, making them an attractive option for those seeking to navigate the evolving regulatory landscape.


Sophia Hernandez is an experienced crypto writer who has been writing about crypto and blockchain technology for 3 years. She has a deep understanding of the complexities of the crypto market and is skilled at breaking down these concepts into easy-to-understand language for readers.