Decentralized solutions like GMX, Lido and $MKR see an influx of activity after the SEC’s crackdown on centralized crypto platforms forced savvy traders to shift their assets.
in the 24-hours after the Feb. 13 SEC announcement, GMX price rose to a new all-time high at . On Feb. 15, Binance saw another $535 million in net outflows.On Feb. 10, GMX hit its all-time high of fees received, reaching $5.7 million. And with the daily active users increasing 16.2% to 2,150, the outflow from Binance may lead to sustained growth for the budding exchange.
Investors seem to be betting on GMX’s growth, making it the ninth top token on Feb. 14 by returns in 7-days by gaining 12.9%.After the SEC’s $30 million settlement with Kraken, BTC and altcoin prices dropped, while LDO price surged. Within 24 hours of the Feb. 9 SEC announcement, LDO gained 13.2% and investors seem to believe that Lido can repeat this action as it is a top twelve performing token with 16% 7-day gains.
In addition to price growth, Lido’s usage as a decentralized staking platform has skyrocketed, seeing $35.8 million in 30-day fees.
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