Summary
- The Block, citing DeFiLlama data, reported that October's decentralized exchange (DEX) trading volume reached $613.3 billion, a record high.
- It also said that centralized exchange (CEX) trading volume for the same month was $2.17 trillion, the highest since January 2025.
- The CEX-to-DEX trading ratio rose from 18.83%% in September to 19.84%% in October, and it was analyzed that liquidity mining and participation in airdrops were major reasons for the surge in on-chain trading.
Decentralized exchange (DEX) trading volume surged in October to a record high.
On the 3rd (Korean time), crypto outlet The Block, citing DeFiLlama data, reported that October DEX trading volume reached $613.3 billion, a record high. By exchange, Uniswap (UNI) led with $170.9 billion, followed by PancakeSwap (CAKE) with $101.9 billion.
Centralized exchange (CEX) trading volume for the same month was also $2.17 trillion, the highest since January 2025. Binance was largest at $810.4 billion, followed by Gate.io ($175.6 billion), Bybit ($156.9 billion), and Bitget ($134.7 billion).
The CEX-to-DEX trading ratio rose from 18.83% in September to 19.84% in October. Vincent Liu, Chief Investment Officer (CIO) of Chronos Research, analyzed, "On-chain trading surged not only due to asset custody and transparency but also because of liquidity mining and participation in airdrops." Min Jeong, an analyst at Presto Research, explained, "Volatility increased after Bitcoin (BTC) plunged from $121,500 to $110,000 on October 10 and then fell to $104,600 on the 17th, which led to more active trading."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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