Odaily Planet Daily report: The ratio of DEX to CEX spot trading volume rose to 24% at the end of July, reaching a record high compared to 17% a year ago. This metric measures spot trading volume only, excluding futures and derivatives, and primarily covers trading on decentralized exchanges such as Uniswap and Aerodrome.
A key reason for this increase is the significant decline in spot trading volume on centralized exchanges. As spot trading activity has decreased, centralized platforms such as Coinbase and Gemini have come under pressure, with some companies already implementing layoffs, while traders are gradually shifting toward on-chain trading alternatives.
Data shows that total spot exchange trading volume is approaching a 12-month low of approximately $670 billion, significantly below the yearly high of $2.23 trillion.
The Block analyzes that the decline in spot trading volume is partly due to分流 from prediction markets and reflects an overall decrease in interest in cryptocurrency trading. In other words, the record-high share of DEX trading does not necessarily indicate absolute growth in on-chain transactions, but rather a structural shift occurring against the backdrop of declining CEX spot trading. (The Block)