If you’re into cryptocurrency trading or are trying to learn more about it, you may want to look into DEX options. DEX stands for decentralized options which continue to grow in 2024. Some of the most popular ones to look out for may remind you of your favorite food and grocery stores.
SushiSwap
Have you ever eaten sushi? If so, you may have also enjoyed a Bento box. Now, you can enjoy both when you use this trading option. BentoBox is the clever name the SushiSwap option uses for its community-driven platform. According to Beincrypto, it also acts as a DeFi vault.
According to Beincrypto, in 2023, its native token climbed as high as $1.55. Such growth has been prevalent in the past few years on the platform. Therefore, users should expect it to continue to increase in value. Its ecosystem continues to increase due to its other tokens like Kashi DApp.
The SushiSwap platform has also made some strategic moves. Traders and investors are eyeing it up as it’s been able to generate more money for its users. This increase in income has been due to branching out to more blockchains. In 2024, you can expect to see this option further expand with its user-centric features and more opportunities for user liquidity.
PancakeSwap
Maybe you like SushiSwap but are looking for cheaper fees while doing trading, then PancakeSwap may be for you. If you’re getting your feet wet in the DEX trade market, it’s a good place to start because you won’t have to spend too much upfront. This year also sees an introduction to four different trading fee levels. You can trade at 0.01 %, 0.05%.0.25%, and 1%.
As you continue to enjoy trading on the platform, it may earn you VIP status. The VIP Membership program offers a 5% trading fee rebate option. This rebate will make it easier for more people to participate, which can also increase revenue. Luckily, revenue hasn’t been a problem so far. According to Coindesk, it has over $2.5 billion in total value locked (TVL).
Trader Joe
This option was built on the Avalanche blockchain, where it raked in over $88,000,000 worth of tokens so far. Such financial growth has made it one of the largest lending services on a network. According to Coindesk, it saw a locked value peak of $2.5 billion in 2021.
This year’s innovation can also see more benefits for current token holders. They will see a share of trading fees built from sJoe.Those awards will be available across different chains, including Arbitrium and Binance, instead of just Avalanche. Plus, there is a Liquidity Book Rewards program in the works for anyone who holds veJOE.
It’s never been a better time to get involved in DEX trading. While you have many options to consider, these are three of the top ones to look out for in 2024. The reason why these options are among the top ones making waves is because of their continuous increase in revenue, which improves trust from traders. Stakeholders are also rewarding many existing holders with increasing incentives and easy access to liquidity. Many of these platforms also have vibrant communities where you can continue to learn more about your options and which tokens are best for you this year. Your 2024 can be lucrative with one or more of these trade options.
