Kaiko notes renewed activity among cryptocurrency traders

Since October, a trend toward higher average transaction sizes on both centralised and decentralised exchanges has emerged, Kaiko reports.

DEXs include Uniswap, TraderJoe, Pancakeswap, Balancer, and Sushiswap.

(Curve excluded because trade sizes are massive > $60k) pic.twitter.com/ajxtLcAuSx

— Clara Medalie (@Clara_Medalie) December 12, 2023

In the first case, the metric approached about $220, while in the second it exceeded $3,000. The metric for DEX includes values from Uniswap, TraderJoe, PancakeSwap, Balancer and SushiSwap.

Aggregate DEX trading volumes for the month of November continued the recovery from the multi-year low in September, reaching $29 billion. The figure remains four times below the May 2021 peak of $124 billion.

DEX share of trading volume CEX remained at 3%. In January it stood at 5%. A record 10% was registered in November 2020.

The leader’s trading volume in the segment—Uniswap—for versions 2 and 3 totaled 40% of Coinbase’s figure (at its peak, it exceeded 50%).

Open interest (OI) in the crypto derivatives market rose to its highest since March 2022, at $10.2 billion (the aggregate across Binance, Bybit, OKX and Deribit).

The trend reflects a positive re-pricing of the underlying contract. In bitcoin terms, OI has not yet recovered from the August 17 sell-off.

Analysts at Glassnode cited the prerequisites for volatile swings in Bitcoin within a range of +/- 50% around $36,000.

Earlier ForkLog experts shared views on the reasons for the rally in digital gold and discussed the prospects for prices rising to $52,000.