The emergence of decentralized finance (DeFi) has reshaped the mural of the cryptocurrency ecosystem, which was one time dominated by centralized exchanges like Coinbase and Binance and helped to make information technology more attainable for users and projects seeking to gain access to the markets.

As DeFi emerged as a cheaper, more accessible pick for investors and projects, centralized exchanges saw their reserves of Bitcoin (BTC) and Ether (ETH) dip and they began to compete for users as growing numbers of investors opted to requite DeFi a try.

Instead of taking a 'centralized only' approach, LCX exchange has adapted its model to offer centralized and decentralized services and during this fourth dimension its native LCX token climbed to a new record loftier.

Data from CoinGecko shows that since hitting a depression of $0.034 on Aug. 21 the price of LCX has exploded past 430% to a daily high at $0.1775 on Sept. xviii as its 24-hour trading book spiked 700% from an average of less than $1 million to $vii.half dozen million.

LCX/USDT price. Source: CoinGecko

Three reasons for the rising price of LCX include the release of the LCX DeFi terminal, increasing trading volume and total value locked (TVL) on Uniswap and the expansion of the LCX substitution ecosystem.

LCX pivots to DeFi

On Sept. 17, LCX released an update to the protocol's DeFi Terminal 2.0, as well known as the Fire Salamander DEX aggregator.

According to LCX, the update aim to ameliorate the user experience and the upgrade improves gas efficiency and integrates six new decentralized exchanges to the interface.

The new DEXes added include Shibaswap, Swipeswap, Luaswap, Youswap, Polyient Dex and Emiswap, bringing the full number of integrated DEXs to thirteen.

Trading book and TVL rise

A second reason for the surge in the price of LCX has been the increment in trading activity and bachelor liquidity for the token on Uniswap.

LCX 24-hr trading volume on Uniswap. Source: Uniswap

Equally shown on the chart above, the surge in cost seen for LCX lines upward with a surge in the 24-hour trading volume on Uniswap.

Total value locked in LCX pools on Uniswap. Source: Uniswap

Every bit of Sept. 21, the total value locked in LCX liquidity pools on Uniswap stands at $3.xv one thousand thousand, a 267% increase from its TVL of $1.18 million on Aug. 21.

Ecosystem expansion, exchange listings and governance features

Another reason for the gains seen in LCX includes the expansion of the LCX ecosystem and the upcoming launch of governance features.

Over the by few months, LCX exchange has added popular altcoins to its list of offerings, including Cardano (ADA), Polkadot (DOT), Hedera Hashgraph (HBAR) and Polygon (MATIC).

At the same fourth dimension, LCX's founder Monte Metzger has hosted a series of podcast interviews with the project leads.

These interviews accept introduced the communities behind these tokens to the LCX ecosystem and helped explain ongoing collaborations such as the partnership betwixt LCX and Polkadot to build out its security token standard using Polkadot'due south parachain technology.

This has brought a new level of exposure to the LCX projection and shone a light on the fact that the substitution is fully licensed and will offer a legally compliant way for users to admission security token offerings (STO). There are also plans to scroll out a governance token for the LCX DEX and this aligns with the popular trend of DeFi exchanges rewarding early stakers with governance tokens.

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