Kyber Network, a decentralized exchange (DEX) that operates on top of Ethereum, is expected to hit $1 billion in volume in 2020, says D5 founder Alex Svanevik.
“Kyber Network will hit $1B traded volume in 2020, easily” he said.
DEXes have performed strongly in general over the last several months, driven by the rapid increase in demand towards decentralized finance (DeFi) platforms such as Maker, Compound, and Synthetix.
Most DEXes on Ethereum likely to hit $1 billion in volume, one expert says
In February 2020, dYdX—a decentralized margin trading platform based on Ethereum, processed more than $160 million in monthly volume, Antonio Juliano, the founder of dYdX, said.
Data from DEX 24 Hour Bot shows that Kyber Network, Uniswap Exchange, and Oasis DEX did $138 million, $132 million, and $99.7 million in February respectively.
*will cover 0x API & RR March onwards
— DEX 24 Hour Volume Bot (@DexWars) February 29, 2020
Based on that statistic, Set Protocol director of marketing and ethhub co-founder Anthony Sassano said that he expects all major DEXes to see over a billion dollars in volume.
“I’m predicting $1 billionl total DAILY volume across all DEXs,” Sassano said.
Earlier this year, Sassano stated that total daily DEX volume will surpass $1 billion at some point in 2020, which would be around the size of the combined monthly volume of all top DEXes on Ethereum.