Trader Joe [JOE] rises up the ranks, gauging what's behind the scenes

Trader Joe's JOE trading activity surged significantly over the last month, pushing the decentralized exchange DEX to sixth position in the list of top DEXs by volume, per DeFiLlama.

Timeline of Joe

Trader Joe [JOE] registered a phenomenal growth in its trading activity over the past week. As per a tweet on 31 March, the 24-hour volume on the decentralized exchange (DEX) was second only to DeFi behemoth Uniswap [UNI].

The price jumped after an annoucement that Stargate would partner with Trader Joe announcement to unlock omnichain fungible tokens. The Stargate DAO also passed a token re-issuance proposal following security concerns tied to Alameda Research's wallets.