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Uniswap and GMX DEX are cryptocurrencies
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DEX Tokens Boosted by FTX Collapse
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UNI may be better in the long term
Decentralized Exchanges, or simply DEX, were after all the talk of the town The Fall of FTX, As investor concerns grew, centralized exchanges such as Binance saw an increase in fund outflows, which benefited DEX platforms. Uniswap and GMX were among those benefiting from the investor exodus, boosting native tokens. But which of the two tokens should you scoop up?
Uniswap
Uniswap is the largest DEX and is based on the Ethereum network. Blockchain is completely decentralized, meaning that no single entity owns or operates it. Being decentralized also means that users have control over their funds. This is opposed to centralized exchanges where users have to share their private keys. Uniswap uses an Automated Liquidity Protocol trading model.
The Uniswap platform is also open source – developers can copy-paste the code to build their own decentralized exchanges. Users can also list tokens on Uniswap for free. The platform is compatible with ERC20 tokens.
Uniswap price The coin is trading at $5.31 compared to an all-time high of $45. Any divestiture investor would find this attractive. However, UNI remains largely bearish despite its recent recovery.
where to buy uni
eToro
eToro offers a wide range of cryptos such as bitcoin, XRP and others, along with crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or be copied by other users.
Buy UNI with eToro today
bitstamp
Bitstamp is a leading cryptocurrency exchange offering trading in fiat currencies or popular cryptocurrencies. Bitstamp is a fully regulated company that offers users an intuitive interface, a high level of security for your digital assets, excellent customer support, and multiple withdrawal methods.
Buy UNI with Bitstamp today
gmx
gmx Is another DEX token that has recently gained popularity after being listed on Binance. The platform is also attracting investors looking out of centralized exchanges. So what is GMX?
GMX is a decentralized exchange that supports spot swaps and perpetual futures. The platform was first launched through the Arbitrum One network when it went live in September 2021. Users get to enjoy 50x leverage on the exchange. Unlike centralized exchanges, users keep custody of their assets through crypto wallets.
DEX is known for zero-price impact trades and low swap fees. Analysts have praised the platform for offering investors unmatched trading fees of up to 30%.
GMX trades at $46 in a market correction after tapping $60 in a bullish market. The latest high was near the GMX’s ATH of $66.
where to buy gmx
final call
Uniswap is a more established network. UNI is suitable for investors looking for a token from a platform that has withstood several crypto seasons. Dip buyers may also consider UNI to be a more suitable token as the price is much lower. On the other hand, GMX leads in investor income through trading fees. Tokens can be a better option for short term investors but not for buyers.