Balancer plummeted further in trading volume in July due to a decline in investor interest in digital assets as a result of market volatilnost.
Balanser, kao i drugi decentralizovane razmene (DEXs), tested a new low in volume in July. According to Be[In]Crypto Research based on data from dina Analytics, the DEX recorded a obim trgovanja of approximately $1.9 billion throughout the month.
Although this value is relatively high compared to other exchanges such as Shibaswap, it was a 25% drop from June. Throughout June, Balancer's volume was around $2.5 billion.
Despite the massive fall in volume, the DEX saw a 54% rise from July of last year. In July 2021, Balancer’s obim trgovanja bio u regionu od 1.23 milijardi dolara.
Overall, the latest statistic was also $2.72 billion below the year’s monthly high of $4.62 billion in May.
What is Balancer DEX?
As part of the Balancer ecosystem which was launched in 2018, the decentralized exchange allows users to trade at optimal prices. The protocol encourages efficient trading by pooling crowdsourced liquidity from investor portfolios while using its smart contract order routing feature to find the best prices for traders.
What caused the dip in volume?
The negative market sentiment which has made investing in digital assets highly unprofitable for individuals and institutional investors was attributed to the cause of the massive drop in volume.
S obzirom na to da je Balanser supports many low-cap digital assets (with less than $2 billion in market value), a decrease in trading activity was reflected in a decline in volume.
Aside from Balancer, other DEXs such as uniswap, Synthetix, Curve, Zamjena, I Sushi Swap also sank to new lows.
BAL price reaction
BAL opened on July 1, with a trading price of $4.54, reached a monthly high of $6.83, tested a monthly low of $4, and closed the month at $6.17.
Overall, despite the fall in volume, there was a 35% increase between the opening and closing price of BAL in July.
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Source: https://beincrypto.com/balancer-bal-volume-hit-2022-low-sinking-more-than-2-7-billion/