Binance DEX has broken into the top 100 cryptocurrency exchanges based on adjusted volume by Coinmarketcap after reaching a new trading volume high of $11.5 million.
Following the launch of Binance DEX, which might have seemed like it had a slow start, has in fact had the complete opposite with over $11.5 million in daily trading volume recently recorded.
Binance DEX, the decentralized exchange offering from the world's most popular cryptocurrency exchange has seen tremendous growth over the past few days as the exchange continues to grow from strength to strength.
While the current token offering on the exchange dwarfs the current offering on Binance, the exchange is still seeing massive growth. Most of the recent trading volume can be attributed to the recent addition of Binance's 5th Launchpad project, Harmony (ONE). In fact ONE is literally the only coin trading significant volume on the exchange, making up a whopping 99% of the DEX's trading volume.
The next top coin based on trading volume is Fantom (FTM) with a meager $59,000 in trading volume.
While the Binance DEX appears to be gaining popularity in terms of trading volume, the fact that only one coin on the exchange makes up predominantly all of the volume most likely does not represent a fair idea of how well the exchange is doing. The exchange is still in its infancy and is seeing projects added to Binance Chain weekly. Binance DEX could be in the top 10 by the end of 2019 if it continues to add meaningful projects to the DEX.
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