Many investors and traders were waiting for the launch of Binance DEX. It was assumed that the Binance cryptocurrency exchange launched a decentralized platform. However, note that the launch had already happened in April, questions are being raised whether it is decentralized or not. Many crypto enthusiasts, as well as traders, think that the name DEX does not represent decentralized. It was to attract more users. However, the controversies and the difference of opinion surrounding the Binance DEX has made it quite popular.
Confusion Surrounding Binance DEX:
Many think that geo-blocked users is due to the restrictions by the US. It means that whether the exchange is decentralized or not, it needs to abide by these restrictions. By geo-blocking the users, it seems like Binance DEX is avoiding legal trouble.
Current Exponential growth:
Decentralized or not, Binance DEX is closely following in the footsteps of Binance. If it continues to increase its volumes at the same pace, sure enough, it will rise from the current position when it comes to cryptocurrency exchanges by market cap. Chances are with the hype created around the Binance DEX exchange in just the coming few weeks; it can gain significant volumes.