The benefits of trading Forex pairs in decentralized finance
Crypto holders can get synthetic exposure to Forex pairs directly on-chain thanks to decentralized leveraged trading platforms. Cryptocurrency volatility attracts a lot of traders looking to convert price fluctuations into profitable deals. Nevertheless, many traders still prefer to speculate on the price of traditional assets, mainly foreign exchange (forex) pairs. The daily turnover of the global forex market hit $7.5 trillion in April last year, according to data provided by the Bank for International Settlements (BIS), making it by far the largest market out there. Thanks to leveraged trading platforms, crypto enthusiasts can get synthetic exposure to this vast market directly on-chain. Some of these decentralized venues enable users to trade a wide range of asset classes, including crypto, forex, stocks, bonds and commodities. While the price moves of most Forex pairs pale in comparison to the wild fluctuations of crypto assets, traders can benefit from the leverage feature to mu...