In DeFi Derivatives, GMX has overtaken dYdX with a 61% lead. The category shows significant consolidation in terms of annual fees, third Synthetix included. 🧵5/9

DEXs kept their transaction volume steady but saw a 51% reduction in fees, likely due to heightened competition and Layer 2 growth. @uniswap.org remains the dominant player in this more efficient and maturing market. Followed by PancakeSwap, SushiSwap, TraderJoe and Balancer rounding the Top5.🧵6/9