Happy Humpday, Blockfolians
June trading volume on decentralized exchanges hit more than $1.5 billion - a new high that is up a full 70% from May!
Of that volume, Curve and Uniswap represented the largest amounts, but Balancer also had a monster month, growing 2,460% from May.
While the news is great for DeFi champions, some are worried that the rapid growth could be problematic. Specifically, if the influx reflects interest in the “liquidity mining” that has quickly become one of crypto’s buzziest buzzwords, it might not be fully healthy.
Still, it’s hard not to be impressed with the group in this still technologically sophisticated and high barrier to entry part of the market.
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Highly Relevant Reading
A US Appeals Court allows for warrantless search of blockchain data. Cool.
CFTC guidance on the ‘delivery’ of digital assets goes into effect
Crypto custodian Curv scores a $23m Series A
Crypto.com’s Chain token up 33% in July
Matt sparks an impassioned debate about the best way to run a bitcoin node
If you want to really understand the Fed, this thread is for you
A Really Big Number We Should Be Paying Attention To
That’s the size of a new bitcoin fund from New York Digital Investments Group
Strange bedfellows, for sure