Back

Bibox Acquires Second Biggest Decentralized Exchange

News
Mon, 12/17/2018 - 13:59
  • Bibox joins the list of big-name centralized exchanges in the likes of Binance and Coinbase that are pouring money into decentralized infrastructure

Cover image via U.Today
Contents

Bibox, the 10th biggest cryptocurrency exchange with a daily trading volume of $196.7 mln, has bought the second biggest decentralized exchange, DEx.top. The official announcement was made on Dec. 17.

Sealing the deal  

In its Medium post, DEx.top states that ‘a meeting of the minds’ was the main reason behind the acquisition. Now that Bibox owns a stake in DEx.top, the two projects can successfully cooperate together in order to ensure a seamless trading experience. The financial details of the deal haven’t been disclosed.   

Must Read
Bithumb Crypto Exchange Merges with “Asian Amazon” to Create Settlement System - READ MORE

A penchant for innovations

Indeed, the two exchanges have both contributed to progress in the crypto space. DEx.top has a very meager social media presence with the total numbers of its Twitter followers barely hovering above 2,000; this is considered the second largest DEX on the market (only trailing behind IDEX).

A penchant for innovations

DEx.top is particularly famous for introducing the innovative ROC (Replayed On Chain) trading mechanism, which allows conducting instantaneous transactions by synchronizing off-chain and on-chain ledgers.   

Meanwhile, Bibox is considered one of the leaders in the realm of centralized exchanges. This platform is particularly beloved by traders because of AI-enhanced trading tools.   

The decentralization trend

Decentralized exchanges have a common problem — all of them struggle to break into the mainstream. However, the fact that many already established players in the crypto industry are dipping their toes in this niche proves that DEXs might become a thing in 2019. Apart from Bibox, Binance has recently offered an insight into their upcoming DEX. Last week, Tron also launched its own decentralized exchange with three TRX20 tokens. Back in May, Coinbase, the leading fiat-to-crypto exchange, acquired the decentralized exchange Paradex, showing its commitment to support decentralization.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

Recommended articles
Former Presidential Candidate Ron Paul Slams Federal Reserve for ‘Reckless Money-Printing’

Former Presidential Candidate Ron Paul Slams Federal Reserve for ‘Reckless Money-Printing’

175.1M XRP Wired by Ripple and Its ODL Corridor as XRP Liquidity Index Hits New ATH

175.1M XRP Wired by Ripple and Its ODL Corridor as XRP Liquidity Index Hits New ATH

Kraken CEO Pitches His Exchange to Nassim Nicholas Taleb After Coinbase's Fiasco

Kraken CEO Pitches His Exchange to Nassim Nicholas Taleb After Coinbase's Fiasco