Source: Glassnode<\/figcaption><\/figure>\nDEXes saw increased activity as well<\/b><\/h4>\n Apart from the jump in the value of DeFi tokens, the past few weeks have also been marked by a jump in network activity across decentralized exchanges. According to Glassnode:<\/span><\/p>\n\u201cThe relative share of volume traded on DEXs has increased from 3.75% at the beginning of June to 29.2% today, close to the highs seen during the second half of 2022.\u201d<\/span><\/p><\/blockquote>\nSource: Glassnode<\/figcaption><\/figure>\nAs noted by Glassnode, the rise in DEX volume was partly due to increased trading activity on Uniswap across Layer 2 platforms and the surge in network activity from both human traders and Sandwich bots.<\/span><\/p>\nWhile Uniswap trading volume on Ethereum remained low, Glassnode noted:<\/span><\/p>\n\u201cthat an appreciable portion of trading has shifted from the Ethereum mainnet across to Arbitrum, attracting up to 32% of volume in March. This trend has remained elevated in June and July, which provides a degree of reasoning for the lower volume on Ethereum we observed above.\u201d<\/span><\/p><\/blockquote>\nRegarding human and Sandwich bots trading activity on Uniswap, Glassnode noted that while human trading volume has risen by 30% since the beginning of July, Sandwich bots have contributed over 60% of the daily trading volume on the DEX.<\/p>\n","protected":false},"excerpt":{"rendered":"
Despite increased regulatory activity, DeFi index price, led by Compound [COMP] and MakerDAO [MKR], has rallied by 56% since 11 June, Glassnode found in a new report. Glassnode\u2019s DeFi price index tracks the performance of the top eight DeFi tokens by market capitalization. With other altcoins outperforming leading altcoin Ethereum [ETH], mostly propelled Ripple\u2019s [XRP] partial win over the U.S. SEC, Glassnode noted: \u201cOur DeFi index\u2026has established an almost two-month-long uptrend relative to ETH. This is the first outperformance since […]<\/p>\n","protected":false},"author":63,"featured_media":583462,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[7575],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/583455"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/63"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=583455"}],"version-history":[{"count":2,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/583455\/revisions"}],"predecessor-version":[{"id":583472,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/583455\/revisions\/583472"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/583462"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=583455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=583455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=583455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}