Key Points:
- CZ’s bullish outlook on DeFi surpassing CeFi in the next market upswing.
- The growing significance of decentralized finance in the crypto ecosystem.
- The potential impact of Uniswap’s recent legal victory on the DeFi landscape.
During the next bullish market surge, CZ suggests that DeFi might surpass CeFi, as he acknowledges the significance of Uniswap’s recent legal victory.
Uniswap, a decentralized exchange (DEX), recently secured a noteworthy legal victory that garnered widespread praise within the crypto community, particularly among DeFi enthusiasts. This landmark ruling absolved developers of any wrongdoing concerning the illicit use of decentralized networks by malicious actors, igniting optimism for future investments in the DeFi space.
Changpeng “CZ” Zhao, the CEO of Binance, joined the chorus of those recognizing the importance of this event. During a recent Ask Me Anything (AMA) session on Twitter, the cryptocurrency mogul described the verdict as “extremely positive.”
In response to a question from a user named DeFi Vas, CZ affirmed that “a developer writing code is basically free speech,” emphasizing the value of development in the crypto space. He also expressed his strong support for DeFi and foretold significant achievements for the sector in the near term, stating that, “As I have said many times before, I think DeFi is the future. I think DeFi volumes are like somewhere between 5 to 10% of CeFi volumes, which is not small. The next bull run may very well make DeFi bigger than CeFi.”
CZ’s optimism was grounded in recent industry achievements, particularly Uniswap’s exceptional performance. Uniswap, the largest and most popular DEX, surpassed the centralized giant Coinbase in spot trading volumes during the first two quarters of 2023. At the time of this report, DEXs had facilitated trades totaling nearly $12 billion in the past week, according to DeFiLlama, claiming a 17.7% share of the total crypto spot trading market. Among them, Uniswap held the lion’s share at 43%, making it the sole major DEX to experience a weekly uptick in trading volumes.
In a blog post, Uniswap revealed its plans to introduce the next iteration, V4, following the Ethereum Dencun upgrade. The vision for V4, disclosed earlier in the year, promises to further advance the DeFi landscape by introducing customizable liquidity through the use of “hooks.
1/ We can’t believe summer is over 😢
But with new protocols, new chains, and new friends, it’s been a blast 🔥 pic.twitter.com/QGP3V8I3mr
— Uniswap Labs 🦄 (@Uniswap) September 1, 2023
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