The cryptocurrencies ethyos puts decentralization at the heart of the project. However, at the start of Bitcoin, users had no choice but to turn to centralized exchange platforms (CEX). Now, thanks to the many developments and in particular the smart contracts, the decentralized exchanges (DEX) have nothing to envy to their alter ego. So well, that the latter continue to grab more and more market share.
- Decentralized exchanges reached a record volume of 26 % of the total made on centralized platforms in May.
- Pancakeswap has surpassed all expectations with a volume of $ 171 billion, marking a spectacular return.
Record of volume on Dex in May
May was marked by a New Bitcoin ATH at $ 111,814. Unsurprisingly, this increase led to its wake the majority of altcoins.
Faced with this progression, the traders seem to be back in the ecosystem. However, a paradigm change seems to take place. Indeed, in May, the decentralized exchanges reached almost 26 % of the volume made on the CEX. A great first, which comes to break the 20 % record set last January.
In total, the Dex have recorded A volume of $ 410 billion in May. In mind, we find Pancakeswap with $ 171 billion. In second place, Uniswap recorded $ 92 billion in volume.
A return in surprising force of Pancakeswap, which in April only reported $ 31 billion in volume.
Paradigm shift: from CEX to Dex
This increase in Dex market share is most notable. As we have just approached, it may not be a simple record, but a paradigm shift.
Yes, faced with platform fiascos such as MTGOX or FTX, users now seem to want to turn to solutions without trusted third party.
An extremely well summarized situation by Simon Kim de Hashed, questioned by our colleagues from The Block.
“It is not just a change of market share. This is a clear paradigm shift, from centralization to decentralization, exchange systems based on confidence in those based on code. »»
A situation that is observed both in the spot markets and the perpetual markets. Indeed, Hyperliquidx exchange continues to break records. He notably passed the 10 billion dollars of Open Interest. Namely, the sum of all open positions. Would the year 2025 be that of the transition of a centralized economy towards an adoption full of the cryptos ethos through decentralization? The next few months will say.