Weekly Round-up: Introducing Decoded by Descrypt
Crypto Traders Abandoning Centralized Exchanges for DEXes

Decentralised exchanges (DEXes) are booming while centralised cryptocurrency exchanges are seeing a major decline in trading volumes. Due to the lengthy process of listing memecoins on centralised exchanges, traders have flocked to DEXes, which is thought to be what caused the move towards DEXes. The DEX to CEX volume ratio has surpassed 20%, which is a record high. The pattern implies that traders have already adopted DEXes as their preferred trading venues, despite some centralised exchanges' attempts to catch up by adding memecoins to their lists of supported coins.

Dubai will host the construction of the first Bitcoin Tower in the world

Dubai is planning to build the BITCOIN TOWER, a revolutionary hotel chain designed to resemble the Bitcoin logo and represent the significance of cryptocurrency. The project incorporates blockchain, AI, and sustainable practises while rewarding visitors with NFTs that provide special advantages. Through cryptocurrency staking, visitors can even earn interest on their rental payments. The project intends to spread knowledge about cryptocurrencies while offering a distinctive hospitality experience. Simone Micheli, a well-known architect, will design unique and immersive spaces using virtual environments. The project's details will be revealed at a high-profile event in Dubai that will draw influential people and stakeholders.

Highlights of the Week
    • Coinbase to roll out 'Moving America Forward' national campaign for crypto.
    • DCG reportedly missed a Payment deadline to Gemini Amounting to $630 Million.
    • Shiba Inu's layer2 network Shibarium transaction volume crossed 10 million.