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Top 5 Decentralized Exchanges (DEX) on Ethereum in 2022 – An Overview

What are the top 5 Decentralized Exchanges (DEX) on the Ethereum Blockchain in 2022 after the merge? Let’s take a look at it in more detail.

Ethereum is by far the most important blockchain with smart contracts and is by far the leader as the basis for decentralized apps and applications. It has become even more important after the famous Ethereum Merge. This also contains decentralized exchanges (DEX), which are largely based on the Ethereum Blockchain. What are the top 5 Decentralized Exchanges (DEX) on the Ethereum Blockchain in 2022 after the merge? Let’s take a look at it in more detail.

What are Decentralized Exchanges (DEX)?

Decentralized exchanges (DEX) are trading platforms for cryptocurrencies that have a totally decentralized configuration. Here, trading partners can trade with each other directly and without a mediator. The exchanges are based on a peer-to-peer basis. The DEX works on blockchain principles.

DEX utilizes blockchain networks like Ethereum to complete totally decentralized financial transactions. As a result, decentralized exchanges offer total freedom and autonomy in financial transactions. This is what makes the DEX so engaging in contrast to centralized crypto exchanges like Binance. 

Why use DEX Ethereum as a foundation?

Ethereum was the first blockchain to present smart contracts. As a result, Ethereum has been able to create a huge ecosystem in recent years. Most decentralized exchanges were created with Ethereum as the foundation, which equipped the network with the essential infrastructure and dependability. In recent years, Ethereum has had major issues with transaction expenses and transaction speeds. But with Ethereum 2.0 these problems should be fixed.

Ethereum has a major role in the field of decentralized applications. The stature of the network is huge, so most dApps and most DEX continue to depend on Ethereum as a trustworthy option with high stature.

Top 5 Best Decentralized Exchanges (DEX) On Ethereum Blockchain

In the following we would like to introduce you to the best-decentralized exchanges (DEX) on Ethereum in 2022:

Uniswap

Uniswap is the most famous decentralized exchange (DEX) in the Ethereum ecosystem. The popularity of Uniswap is intact in 2022. Due to its tall profile and popularity, Uniswap is the first option for many new projects established on Ethereum to utilize launchpads there.

On Uniswap, as a user, you can deliver liquidity to make passive income via your crypto holdings. You can also get Uniswap’s own token, UNI, as a reward. At the moment Uniswap has two versions: V2 and V3. The trading price at V2 is set at 0.3%, at V3 it ranges between 0.05%, 0.3%, and 1%.

Sushiswap

— SushiSwap (@SushiSwap)

Sushiswap is another DEX created on Ethereum. It is an extension of Uniswap. Crypto assets can also be loaned, staked, and farmed here. Likewise, Sushiswap has extended to considerable other blockchain networks. The trading price at Sushiswap is 0.3%. The liquidity providers get 0.25% of this fee and the SUSHI token holders 0.05%. In addition to the percentage of the fees, the providers of liquidity also get the SUSHI token as a reward.

 1 inch exchange

1inch Exchange is another DEX established on Ethereum. It offers swapping, a limit order feature, and yield farming. You can connect your wallet directly to the platform and do not have to enter any personal data. 1inch is a DEX that has more liquidity available than most decentralized platforms. Also, the prices for 1 inch are among the best on the entire market. The platform takes no fees for trading, withdrawals, and deposits. 

Curve.fi

Curve Finance is the next DEX established on Ethereum, and most recently also incorporated Fantom and Polygon for cost-efficient transactions. Besides swapping, investors can make money by delivering liquidity on the platform. The platform is distinguished by a high level of transparency regarding possible risks to users. The cost for trading is 0.04% of the transaction amount. The platform utilizes its own governance token called CRV. This also makes the platform a Decentralized Autonomous Organization (DAO).

Balancer

The last Ethereum-based DEX we want to touch on is Balancer. On the platform, you can swap ERC20 tokens or put them into a liquidity pool to gain rewards and passive income in return. The trading fee on the platform is varying. Although Balancer is established on Ethereum, the platform can effectively decrease gas fees. Every trader gains the BAL token with every trade, which decreases the effective transaction costs in each case. Likewise, Balancer delivers a relatively high level of liquidity on the platform.

Source: Altcoin

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Is Filecoin’s FIL a good buy ahead of the FVM launch?

Filecoin price mirrored that of other cryptocurrencies like Bitcoin and Litecoin. FIL was trading…

The post Is Filecoin’s FIL a good buy ahead of the FVM launch? appeared first on CoinJournal.

Filecoin price mirrored that of other cryptocurrencies like Bitcoin and Litecoin. FIL was trading at $6 on Friday, which is slightly above its year-to-date low of $4.9. It has crashed by more than 84% this year, making it one of the worst performers in the cryptocurrency industry.

Filecoin is still growing

Filecoin is a leading blockchain project that seeks to solve some of the biggest challenges in the tech industry. The platform helps to simplify the file storage industry that is now dominated by a few large companies like Microsoft and Google.

Filecoin makes it possible for anyone with a computer or smartphone to share their storage and then receive compensation. These users are paid using FIL, the native token for the ecosystem. 

According to the developers, the number of people using the platform to store files and provide data is increasing. There are now over 20,000 such users who are storing more than 50 million data objects. At the same time, the number of developers using the network has risen to over 7,000. Most of these developers are from the United States, South Korea, and Hong Kong.

The next major catalyst for Filecoin is the upcoming upgrade that will introduce the Filecoin Virtual Machine (FVM). The upgrade, which will happen in early next year, will be a virtual computer that developers can use to build their applications.

Still, there are concerns about the future of Filecoin and other similar decentralized storage platforms. For one, most people and companies find using centralized platforms like AWS and Azure being fine. 

Another challenge is that many file storage providers could find it difficult to be paid in FIL. Unlike stablecoins, the cryptocurrency is highly volatile and has lost more than 80% of its value this year.

Filecoin price prediction

The daily chart shows that the FIL price has been in a tight range in the past few days. As a result, it is consolidating at the 25-day and 50-day moving averages. It has formed a head and shoulders pattern whose neckline is at $4.95. 

At the same time, the MACD and the Awesome Oscillator are hovering at their neutral levels. Therefore, there is a likelihood that the coin will have a bearish breakout. This view will be confirmed if the coin manages to move below the important support at $4.95.

The post Is Filecoin’s FIL a good buy ahead of the FVM launch? appeared first on CoinJournal.

Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News

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