02 December 2021 13:12, UTC
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Thursday for supporters of cryptocurrency with a dog, began with a pleasant moment after the head of Tesla and SpaceX tweeted a post in which he took care of the coin in response to an article by one of the most popular media that small retail investors were frightened by the ultra-high interest rates of DEX on ETH …
DEXs are usually available to whales and large traders
According to the information provider Kaiko from Paris on electronic assets, although the size of the DEX did not stop growing in the past year, and the total size peaked at $ 8.4 billion at the reporting time, the space is still plagued by continuous problems with high fees for transactions on the Ethereum blockchain. … Due to the difficulties with the load and scalability, users were forced to say goodbye to interest, which was approximately $ 100 per transaction, thereby limiting the use of DEX for small traders.
“Typically, the transaction volume for the rest of the DEX is in the region of $ 10 to $ 20 thousand per day, which is extremely high compared to centralized exchanges, which traditionally have a typical transaction volume of $ 2 to $ 4 thousand. Large transactions seem to be associated with ultra-high interest rates for Ethereum transactions, which prevents a large number of retail traders from using the DEX, “Kaiko noted.
Another obvious discovery is that, although the average volume of transactions on the DEX has grown lately, the formal number of transactions has remained the same, from which it can be concluded that the participants are mostly whales.
Small interest on operations with DOGE
Despite the fact that the interest on transactions with Dogecoin have significantly increased since a year ago, after a rapid rise in the cost per coin, the percentage remains colossally lower, on average $ 0.65 per operation.
A group of Dogecoin programmers are still working on the subsequent reduction of the commission. 7 years ago, as a protection against fraud, it was decided to introduce a fee of 1 Dogecoin per KB. At this point in time, there is a default percentage decrease change, which will be 0.001 DOGE. At the time of writing, Dogecoin continues to experience gains after a small impulse from Dogefather and is currently at $ 0.215387.
Author: Anton Zaitsev, analyst Freedman Сlub Crypto News
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