Cryptocurrency turnover of cryptocurrency exchanges in DeFi decreased by 8%

At the end of March, the total turnover of cryptocurrencies on cryptocurrency exchanges in DeFi was about $67.3 billion, a decrease of 8% compared to February. The decrease in monthly turnover was the first since November 2020. The leaders in digital asset transactions are Uniswap (about $41 billion), Sushiswap (about $10 billion) and Curve ( just over $5 billion).

As DeFi cryptocurrency exchanges bitcoins are traded on these platforms, this trend coincides with a decline in the number of bitcoins that are in DeFi. On April 3, the number of bitcoins in DeFi was at its lowest value of the year, 114,754 thousand BTC. Despite a rebound from this figure upwards on April 4, there is no reason to talk about a change in the downward trend in the number of bitcoins in DeFi yet.

At the same time, thanks to the rise in the price of bitcoin and Ethereum, the dollar value of all the various digital assets involved in DeFi was at its highest value of $48.75 billion this year.

From another segment of the cryptosphere, bitcoin mining, also comes data that further confirms the decreasing willingness of holders of such digital assets to market them. Thus, according to Glassnode, after the dominant trend of miners selling mined bitcoins since the beginning of this year, the last days of March and early April saw an increase in the net position of miners. Thus, the volume of bitcoin sales by miners turns out to be less than the size of the cryptocurrency’s No. 1 income.

The decrease in the turnover of digital assets in DeFi also indicates the development of other areas of this segment of the cryptosphere, in addition to trading directly. For example, the Compound platform’s lending portfolio reached a new high, surpassing the $15 billion mark. At the same time, the NFTs token segment is showing signs of a downward correction, according to analyst Max Minsker, analyzing the situation on one of the trading platforms for such digital assets.