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CoinGecko: DEX trading volumes up 444% amid SEC lawsuit against Binance and Coinbase

According to CoinGecko service, the median trading volume on decentralized cryptoexchanges (DEX) for the last two days increased by 444%. Analysts link it to the SEC lawsuit against Coinbase and Binance exchanges.

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Uniswap V3 (Ethereum), Uniswap V3 (Arbitrum) and Pancakeswap V3 (BSC) grew by $792 million from June 5 to 7. These exchanges account for 53% of the total trading volume on the DEX. Curve, which offers the opportunity to trade in stabelcoins, saw a 328% increase in trading volume. The lion’s share of transactions was made by users with USDC and USDT.

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Against the background of the claim of the U.S. Securities and Exchange Commission (SEC) to Binance, the outflow of funds from the largest exchange was $778 million. However, the volume of assets on the site remains very significant. Binance wallets hold over $8 billion in stabelcoins alone.

Recall that on June 5, the U.S. regulator sued the exchange Binance and its founder Changpeng Zhao (Changpeng Zhao). And the next day, the SEC filed a similar lawsuit against the Coinbase exchange.