The Block reports that decentralized exchanges captured a record 24% of spot crypto trading as centralized exchange volumes declined significantly. Spot exchange volume is on track to hit a new 12-month low of $670 million, down sharply from the annual high of $2.23 trillion.
A rising DEX share of spot volume is a tailwind for anyone building on-chain trading or wallet flows on Base and Avalanche, since it suggests users are getting more comfortable self-custodying and routing through smart contracts. If the trend holds, the practical opportunity is in the UX gap DEXs still carry: gas abstraction, fiat on-ramps, and MEV protection are where retail still leaks back to centralized venues. Worth checking whether this shift is broad adoption or concentrated in a few high-volume pairs before treating it as durable demand.
The headline and summary above belong to The Block; the full story is theirs and lives on their site. Only the commentary is ours.
HTSApp