In the cryptocurrency world, decentralized exchanges (DEX) have always been a hot topic of much concern. Recently, an amazing news caused a sensation in the industry: the trading volume of dYdX v4 in the past 24 hours has exceeded that of the industry giant Uniswap! This news is like a bombshell, making people re-examine the pattern and potential of the DEX market. Let us explore this far-reaching change and open a new chapter in the DEX market.

The DEX market has always been the most dynamic and innovative part of the cryptocurrency field. With the development of blockchain technology and the continuous growth of market demand, more and more investors and traders have begun to pay attention to DEX exchanges. The recent news that dYdX v4's trading volume has surpassed Uniswap has pushed this attention to a climax. What secrets are hidden behind this change? We will reveal them one by one.

First, let's take a deep look at dYdX v4, a highly anticipated decentralized exchange. As a newcomer in the DEX market, dYdX v4 has attracted the attention of a large number of users with its fast, secure and low-cost trading experience. Its unique trading mechanism and innovative product design have won it wide recognition and praise. Its nearly 24-hour trading volume surpassing Uniswap makes people have to be full of expectations for its future development.

Next, let's explore the current situation and future of Uniswap, the DEX giant. As one of the most well-known decentralized exchanges in the industry, Uniswap has always been known for its excellent liquidity and convenient trading experience. However, with the intensification of market competition and the rise of emerging exchanges, Uniswap is also facing new challenges and opportunities. Its recent surpassing by dYdX v4 has made people begin to re-examine this former giant and think about its future development direction.

In addition to dYdX v4 and Uniswap, there are many other exchanges and projects in the DEX market that have attracted much attention. For example, projects such as SushiSwap, Curve Finance, and Balancer are also constantly launching innovative products and services, attracting more users and funds. The rise and development of these projects have injected new vitality and momentum into the entire DEX market, and also given investors and traders more choices and opportunities.

Behind the booming DEX market, there are also some challenges and risks. Issues such as the security, liquidity and regulation of decentralized exchanges remain the focus of the industry. How to ensure the safety of user assets while ensuring the convenience of transactions, how to improve the liquidity and market depth of DEX exchanges, and how to deal with the ever-changing regulatory policies are all urgent issues to be solved in the DEX market.

In general, the development prospects of the DEX market are still full of opportunities and challenges. The news that dYdX v4's trading volume in the past 24 hours has exceeded Uniswap is just a microcosm of this huge market. More exciting stories are being staged in this vibrant and innovative field. Whether it is investors, traders or project parties, they need to remain vigilant and open-minded, constantly learn and adapt to market changes, in order to be invincible in this highly competitive DEX market.

Finally, let us look forward to the future of the DEX market together. I believe that with the advancement of technology and the development of the market, DEX exchanges will become more mature and stable, bringing more convenience and opportunities to global digital currency transactions. Let us work together to witness the brilliant future of the DEX market!

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Coin Circle (120Btc.COM) News: In October last year, the decentralized perpetual contract exchange dYdX officially launched version v4, transitioning from the Ethereum Layer2 network to an independent blockchain on Cosmos, with the goal of making its market "fully decentralized" so that its order book and matching engine no longer operate in a centralized manner.

It is worth noting that according to CoinMarketCap data, dYdXv4's trading volume in the past 24 hours reached US$633 million, surpassing the DEX leader Uniswap
v3 (Ethereum chain) with US$522 million, becoming the decentralized exchange with the largest daily trading volume. The still-operating dYdX v3 ranked third with a nearly 24-hour trading volume of US$482 million.

But in terms of TVL, DefiLlama data shows that Uniswap's total locked-in volume is as high as US$4.42 billion, far exceeding dYdX's US$332 million.

dYdX v4's trading volume in the past 24 hours has surpassed Uniswap

dYdX successfully transitioned from Ethereum to Cosmos independent chain

According to Coindesk, dYdX said that the total trading volume of the v4 market since its launch is $17.8 billion, while dYdX
v3's trading volume in 2023 totaled more than $1 trillion, with daily trading volume exceeding $2 billion on several days.

Judging from the current trading volume results, dydXv4's daily trading volume has exceeded Uniswap and other Ethereum-based DEXs, including dYdX's own v3, successfully washing away some people's concerns that its migration from Ethereum to an independent chain in the Cosmos ecosystem may lead to a decline in usage. dYdX pointed out that v3 on Ethereum will eventually be closed, but the end date has not yet been determined.

Regarding the impressive trading volume performance of dYdX v4, Paul
Veradittakit, president and managing partner of cryptocurrency fund Pantera Capital, said: DeFi users have been looking for platforms that can provide "high throughput for fast, transaction-by-transaction." [Ethereum] High gas fees further exacerbate the problem, reducing user profits and platform attractiveness. dYdX
v4 uses the Cosmos SDK to transition to an independent blockchain, promising significantly higher transaction throughput, lower transaction costs, and on-chain logic customized for complex and high-frequency trading needs, thus solving the head-on challenge.

DYDX has risen nearly 16% in the past two weeks

In terms of currency price, dydX's native token DYDX has risen by more than 15.8% in the past two weeks, and was reported at $3.05 before press time, up 3.9% in the past 24 hours.