DEX volumes made up almost 4% of centralized exchange volumes in July — a monthly high
August 4, 2020, 4:42PM EDT
1 min read
Decentralized exchanges experienced a record-breaking July for volume, surpassing $4 billion to hit a new all-time high.
But July also saw the DEX space hit another benchmark: an increase in the ratio of DEX-to-centralized exchange volume. The Block Research found that this ratio reached nearly 3.95%, a jump from June's 2.1%. Prior to June, the ratio had never surpassed 1%.
One reason to explain this positive trajectory is the emergence of new technologies that raise the scalability of decentralized exchanges, which lead to a more competitive exchange offering compared to centralized counterparts, according to a report by The Block's Mika Honkasalo.