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DEX Market Share Relative to CEX Slips to 3% in November

Published 12/13/2023, 03:35 PM
Updated 12/13/2023, 03:45 PM
DEX Market Share Relative to CEX Slips to 3% in November
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  • The trading volume of decentralized exchanges (DEXs) reportedly rose to $29 billion in November.

  • The DEX trading volume reached its all-time high of around $124 billion in May 2021.

  • The market share of the DEX to CEX trade volume plummeted to 3% in November.

Crypto analytics provider Kaiko has reported that trading activity on decentralized exchanges (DEXs) increased over the past month. According to Kaiko’s report, the monthly trading volume of DEX has recovered substantially from September’s multi-year low, reaching $29 billion in November.

DEX trading volume hit its all-time high (ATH) in May 2021, when it surged past $124 billion. November’s DEX trading volume lies far behind its ATH. Notably, the volume hike in November was less impacted by major players like Uniswap and Curve on Ethereum and PancakeSwap on BNB Chain, as they showed a slower pace of growth.

Source: Kaiko

In addition, Kaiko shared that the market share of decentralized exchanges has decreased relative to that of centralized exchanges this year. In November 2020, the crypto industry showed the highest rate of market share of DEX to CEX volume at 10%, when the public interest in …

The post DEX Market Share Relative to CEX Slips to 3% in November appeared first on Coin Edition.

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