The total number of trades on DDEx more than doubled in June 2022 as compared to April 2022 amid investors' growing appetite for digital assets like Bitcoin and Ether . Buy orders on DDEx accounted for 90% of all trades in June as cryptocurrencies traded at notable discounts in mid-2022, DBS said.
Compared to April 2022, the amount of Bitcoin purchased on DDEx in June saw a fourfold increase, while the quantity of ETH grew 65%, DBS reported. “With the digital asset industry experiencing unprecedented volatility, investors who believe in the long-term prospects of digital assets are gravitating towards trusted and regulated platforms,” the bank said in the statement.
According to DDEx CEO Lionel Lim, the digital asset industry has seen a “great reset” as the investment narrative has been moving away from chasing for yield. “Investors today are instead seeking out safe harbours to trade and store their digital assets amid the ongoing market volatility,” Lim noted.
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