Top DEX tokens to buy after CEXs run into liquidity issues
- Centralized exchanges have been running into liquidity and service issues.
- UNI saw a difference in its value by 61%, XLM by 40%, and CAKE by 40% in the last seven days.
- These cryptocurrencies are being looked at as alternatives to centralized exchange token offerings.
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We looked at how Binance was planning on acquiring FTX, as confirmed initially by Binance (BNB/USD) founder Changpeng “CZ” Zhao.
However, Binance later confirmed that they would not pursue the acquisition of FTX.com. The exchange did say that the hope was for the company to support FTX customers and provide liquidity.
Both Coinbase and Kraken’s platforms were also down and were experiencing intermittent latency issues on November 8 due to market turbulence.
Kraken did not comment on issues through its public channels but highlighted that it uses Proof-of-Reserves audits.
Should you buy Uniswap (UNI)?
On November 10, 2022, Uniswap (UNI) had a value of $5.504.
The all-time high for Uniswap (UNI) was on May 3, 2021, at $44.92. This means that at its ATH, it was trading $39.416 higher in value, or 716% higher.
When we go over the 7-day performance, Uniswap (UNI) saw its low point at $4.80, while its high point was at $7.72. This marked a $2.92 increase or 61%.
In terms of the 24-hour performance, the low point was $4.76, while the high point was $5.74. This marked a 20% increase, or by $0.98.
If investors want to buy UNI, now is the right time, as it can climb to $6.2 by the end of November 2022.
Should you buy Stellar (XLM)?
On November 10, 2022, Stellar (XLM) had a value of $0.090217.
Stellar (XLM)’s all-time high was on January 3, 2018, with a value of $0.875563. At its ATH, XLM was $0.785346 higher in value, or by 870%.
When we take a look at its performance throughout the last week, XLM saw its low point at $0.082204, while its high point was at $0.115671. Here we can see a $0.033467 difference, or by 40%.
Going over the 24-hour performance, Stellar (XLM) saw its low point at $0.082131, while its high point was at $0.094967. This marked a $0.012836 difference in value, or by 15%.
Buying XLM provides a solid opportunity as it can climb to $0.12 by the end of November 2022.
Should you buy PancakeSwap (CAKE)?
On November 10, 2022, PancakeSwap (CAKE) had a value of $4.036.
PancakeSwap (CAKE) saw its all-time high value on April 30, 2021, at $43.96. Here we can see that CAKE was $39.924 higher in value, or 989% higher.
The 7-day low for PancakeSwap (CAKE) was at $3.73, while the 7-day high was at $5.23. This marked an increase of $1.5 or 40%.
The 24-hour low of CAKE was $3.68, while its high was $4.30. Here we can see an increase of $0.62 or 17%.
With this in mind, buying CAKE is a solid DEX token option, as it can climb to $5 by the end of November 2022.