Editor's PiCK
Decentralized exchange spot trading market share nears 25%, hits all-time high
Summary
- The Block reported that in May, the spot trading volume of decentralized exchanges (DEX) reached 25% of the total, marking an all-time high.
- Kim Seo-joon, CEO of Hashed, interpreted this change as a paradigm shift from centralization to decentralization, and suggested that Solana (SOL)-based meme coins being listed on DEX before centralized exchanges (CEX) had an influence.
- May's monthly DEX trading volume was tallied at $410.2 billion, with PancakeSwap (CAKE) leading at $171.6 billion, followed by Aerodrome (AERO) and PumpSwap, each at $15 billion.
In May, decentralized exchanges (DEX) accounted for 25% of the total spot cryptocurrency trading volume, reaching a record high.
According to The Block on the 2nd (local time), decentralized exchanges took up 25% of the total spot trading volume in the market, hitting an all-time high. The previous record was 20% in January.
Kim Seo-joon, CEO of Hashed, commented, "This represents not just a shift in market share, but a paradigm shift from centralization to decentralization," adding, "The fact that a popular Solana (SOL)-based meme coin launched on DEX before central exchanges (CEX) likely had an impact." He further explained that improvements to personal wallet usability, regulatory issues on centralized platforms, and a decline in trust also played a role.
Meanwhile, according to data from The Block, May's monthly DEX trading volume reached $410.2 billion. PancakeSwap (CAKE), based on the Binance Coin (BNB) chain, led with $171.6 billion in trading volume, while Base (BASE)-based Aerodrome (AERO) and Solana-based PumpSwap each recorded $15 billion and followed behind.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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