Best 3 DEX Tokens to Buy in July: DYDX, UNI, BAL

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Decentralized exchanges (DEX) have seen a strong recovery in recent weeks as volume increases. Indeed, DEX tokens have outperformed those of centralized exchanges such as Huobi, OKX, and FTX token. Investors seem to believe that DEXes have outperformed during the recent collapse, with many centralized companies like Voyager Digital out of business.

dYdX (DYDX)

dYdX is a leading decentralized exchange that allows people to buy and trade hundreds of digital currencies. At its peak, the platform was processing over $4 billion worth of cryptocurrencies. Recently, however, the daily volume has dropped to about $700 million due to the ongoing sell-off.

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The dYdX price has risen sharply in recent weeks. It is up more than 157% from its all-time low. There is a good chance that the coin will continue to rise as the crypto industry makes a comeback.

Another key catalyst for dYdX is the upcoming launch of the new smart contract platform. In a recent announcement, the developers announced that they were switching from Ethereum and building a new platform in Cosmos. Therefore, there is a good chance that the currency will remain at a high level in August.

Uni swap (UNI)

Uniswap is a leading decentralized exchange credited with revolutionizing the industry. It is the largest DEX, with a total value locked (TVL) of $6.40 billion. It is the fourth largest DeFi network after Maker, Lido and Compound.

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Uniswap has millions of users and has helped to process cryptocurrencies worth over $1 trillion. It has also expanded its ecosystem, with some of its major platforms such as Gelato, Sorbet, Rainbow Wallet, and Flipside Crypto.

UNI is a good DEX token due to its pioneering role and the fact that it has a strong market share. Most importantly, it’s a blue-chip network that’s likely to survive, just like Amazon and Google survived the dotcom bubble.

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Balancer (BAL)

Balancer is another DEX platform worth investing in in August. It is a platform that allows people to invest in automated wallets and trade digital tokens. According to the DeFi platform, it has a total value of more than $1.49 billion. Balancer is the 12th largest DeFi platform in the world.

Balancer is a good investment due to the recent launch of Optimism and the increasing influx to the network. The Balancer price is up more than 71% from its lowest level in 2022.