DEX/CEX Spot Trading Volume Ratio Hits Record High in July

IconCryptoNewsTerminal Staff26 Jul, 2024

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DEX/CEX Spot Trading Volume Ratio Hits Record High in July

July saw a significant surge in the spot trading volume ratio of decentralized exchanges (DEXs) to centralized exchanges (CEXs), reaching an all-time high since tracking began in January 2019. According to The Block's data, as of July 26th, the DEX:CEX spot trading volume ratio stood at approximately 14.55%. This surpassed the previous high of 13.7% set in May 2022. The surge in DEX trading activity has been driven by several factors, including increased user confidence in DEXs, the proliferation of decentralized applications (dApps), and the growing popularity of DeFi protocols. As a result, DEX trading volume has reached approximately $126.3 billion for the month of July as of the 26th. The increased DEX:CEX spot trading volume ratio suggests a growing trend towards decentralized trading platforms. This shift may be attributed to the inherent advantages of DEXs, such as their non-custodial nature, transparency, and resistance to censorship.

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