DEX Market Share Hits Record 24% as Spot Crypto Volumes Drop
Decentralized exchanges reached a record 24% share of spot cryptocurrency trading while centralized exchange trading volumes decreased. Total spot exchange volume is nearing a 12-month low of $670 million, down significantly from an annual high of $2.23 trillion.
Decentralized exchanges (DEXs) have captured a record 24% of total spot cryptocurrency trading volume. This shift comes as overall trading activity across centralized exchanges (CEXs) experiences a substantial decrease in trading volume.
Overall spot cryptocurrency trading volume is currently on track to record a new 12-month low, reaching $670 million. This marked contraction highlights a significant drop in trading activity across the digital asset marketplace over recent months.
By comparison, total spot trading volume previously recorded an annual high of $2.23 trillion. The sharp decline down to the $670 million mark reflects shifting market dynamics and diminished spot trading activity across major exchange platforms.
Source attribution
- theblock.coIvan Wu and Bryan Samsoedin
Original source links
- theblock.co: Original source
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cryptocurrency · finance · crypto trading · markets · dex
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