What is a DEX, you ask? A DEX is a decentralized exchange, and there are quite a few of them. Why are they growing like a weed, dear reader? This might help explain the phenomenon.
Although they don’t offer the kind of liquidity associated with centralised platforms, DEXs are mostly permissionless and non-custodial. They also offer added privacy, and from an investor’s point of view, they have grown immensely the past year. Here are some highlights:
- Data shows that the number of DEXs has grown massively since 2019
- Also, large crypto transactions are growing at a rapid pace on decentralised platforms
- Leading DEXs are adding support for a wide range of crypto assets, making them convenient for investors.
In case you’d like to ride the growth of DEXs in the near and long term, then there are two platforms and their native tokens you can consider. Here they are:
AirSwap (AST) is a fully decentralised exchange built to offer peer-to-peer trading. The platform support transactions in a huge variety of crypto assets with low fees and faster speeds. AirSwap is also noncustodial and uses standard RFQ and Last Look protocols to help power a vast peer-to-peer trading network.
Data Source: Tradingview.com
Its native AST token is used for platform transactions and as the governance token as well. AirSwap is one of the most promising DEX projects today. AST tokens were trading at $0.2936 at the time of writing this post. AST also had a market cap of $44 million, meaning the upside for growth is very high.
1Inch Exchange (1INCH)
1Inch.Exchange (1INCH) is more of a DEX aggregator and trading platform that scans the entire crypto market to give you the best trades with the lowest transaction fees. It is also non-custodial and compatible with a wide range of crypto assets and wallets.
1inch is the native governance token for the exchange, and at press time, it was selling at $2.48 with a market cap of around $1 billion.