Tether Looks To Compete Against DeFi With Upcoming Synthetic Asset Platform

Tether is set to launch Alloy, a “Tethered asset” platform allowing users to create overcollateralized stablecoins against digital assets.

DeFi Pulse Unveils New Cross-Chain DEX Rankings, Highlighting Emerging Trends

DeFi Pulse has introduced a new cross-chain DEX ranking system, offering a comprehensive overview of decentralized exchange activity across multiple Layer 1 and Layer 2 protocols. The rankings, which include data from seven different chains, showcase the rising popularity of zkSync and Arbitrum.

As of June 21, Uniswap continues to dominate the rankings on Ethereum, boasting over $100 million in 24-hour volume. Among Layer 2s, zkSync DEX Balancer (zk) leads the pack with nearly $15 million in volume, followed by Arbitrum DEX SushiSwap (Arbitrum One) with over $12 million.

On BNB Chain, PancakeSwap maintains its strong performance with over $30 million in 24-hour volume, while SpookySwap leads the way on Fantom with over $3 million. Among Layer 1 protocols, NEAR DEX Trisolaris and Avalanche DEX Trader Joe both register impressive volumes, exceeding $10 million and $7 million, respectively.

The full cross-chain DEX rankings can be found on DeFi Pulse’s website.