The monthly trading volume on decentralized exchanges (DEX) relative to centralized exchanges (CEX) has reached a new historic high. According to The Block, as of July 29, 2024, this figure stood at 14.22%.
The previous record was set in May 2023 at 13.7%.
Experts attribute the growing popularity of DEX to increased regulation of centralized platforms and a rising interest in decentralized financial instruments. Decentralized exchanges offer users a higher level of anonymity and security, which is attracting more and more investors.
Additionally, the development of technologies such as automated market makers (AMM) and integration with various blockchains contributes to the growth of trading volumes on DEX. Investors are increasingly choosing decentralized platforms for cryptocurrency trading, which is reflected in their growing market share.
