Osmosis launched a new stablecoin trading exchange for the Cosmos ecosystem.
Price did not reflect the positive reactions regarding the new launch.
The trading volume fell by almost 20%.
Osmosis is a decentralized exchange (DEX) for the Cosmos ecosystem, which has recently launched a stableswap — a protocol for trading stablecoins. The main notion behind this launch was Osmosis becoming the main venue where Cosmos users can access and trade in the wider range of stablecoins. In the bigger picture, we can observe that amidst crashing centralized exchanges (CEX) crashing and flourishing DEXs (rising user count and rising native coin prices), OSMO, native coin of Osmosis did not even flinch and continued to form a down trail. Also, the exchange has had almost no new users while existing ones are switching to other DEXs. The Osmosis exchange continued to be deserted and made no amends to show recovery from the FTX crash. On top of that, despite a dwindling user count, the exchange ex
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