Crypto Users Flock to DEXs After SVB Collapse: Chainalysis
full version at dailycoin
- The collapse of SVB and other banks prompted users to turn to DEXs.
- The recent bank failures threaten liquidity between fiat and crypto.
- Crypto users turned to DEXs like Curve Finance and Uniswap to acquire other assets amidst the chaos.
The recent collapse of three crypto-friendly banks, including SVB, has made investors nervous over their ability to cash out of the market. The de-banking of crypto could have serious implications for the industry. To tackle that issue, investors flocked to decentralized exchanges (DEXs).
A report by Chainalysis looked at the collapse of Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank. The report, published on Tuesday, said that the...
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