Despite pullback, trading volumes on decentralized exchanges are still significantly higher than Q2.
The trading volume on decentralized exchanges, or DEXs, reached $42.6 billion during Q3 2020, marking an increase of 1,132% on the previous quarter, according to a recent industry report from TokenInsight.
However, October saw figures pull back a little from September highs, as Bitcoin (BTC) prices started to pump, re-capturing traders' attention following the previous few months' decentralized finance, or DeFi, boom.
Volumes in July alone reached $5 billion, which was up one third on the entire Q2 figure.