In the past 24 hours, the turnover of Arbitrum Ecological DEX Vela Exchange has exceeded US $340 million

On February 21, it was reported that in the past 24 hours, the transaction volume of Vela Exchange, an ecological native DEX project of Arbitrum, reached $341 million, while the transaction volume of GMX in the same period reached $111 million (including Arbitrum and Avalanche networks). Vela Exchange is designed with a mechanism similar to GMX and is still in the testing stage.

Interpretation of this information:

The message highlights the latest transaction volumes of Vela Exchange and GMX, both of which are decentralized exchanges (DEX) built on the Arbitrum network. Vela Exchange, a native DEX project of Arbitrum, has recorded a transaction volume of $341 million in the past 24 hours, whereas GMX, which operates on both Arbitrum and Avalanche networks, has managed a volume of $111 million. It is worth noting that Vela Exchange is still in its testing phase but seems to have gained traction among users.

A DEX operates on a decentralized blockchain network, minimizing the need for intermediaries, hence allowing users to transact directly with each other. These exchanges have been gaining popularity due to their transparency, security, and control over assets. Vela Exchange’s impressive transaction volume suggests that users are embracing the advantages of DEXs built on the Arbitrum network.

The comparison between Vela Exchange and GMX is significant, as it provides insight into how the two DEXs are performing. GMX operates on both Arbitrum and Avalanche networks, giving users more options for trading. However, despite having access to multiple networks, its transaction volume is significantly lower than that of Vela Exchange. It suggests that Vela Exchange’s native DEX project may have certain advantages that GMX lacks.

The fact that Vela Exchange is still in the testing phase and has managed to outpace GMX in transaction volume could indicate that it has a bright future. Once the platform is launched, it may further increase its transaction volume and gain even more popularity among DEX users. This development could be encouraging for other native DEX projects being developed on the Arbitrum network.

In summary, the message indicates that Vela Exchange’s transaction volume has surpassed that of GMX in the Arbitrum network, reaching $341 million in the past 24 hours. Vela Exchange operates as a native DEX project and is still in the testing phase. The comparison between the two DEXs provides insight into their performance and indicates that Vela Exchange’s native DEX project could have some advantages that GMX lacks. The three keywords that summarize the content are Vela Exchange, GMX, and transaction volume.