The proportion of DEX in spot trading volume reached a new high of 24%, while CEX spot trading volume fell to a 12-month low

According to The Block, the proportion of DEX in spot trading volume reached a historic high of 24% in July, up from 17% a year ago, while the spot trading volume of centralized exchanges is expected to hit a 12-month low, dropping from a yearly high of $2.23 trillion to $670 billion.

The decline in trading volume is partly attributed to predicted market diversion and also reflects a general decrease in crypto interest. Meanwhile, on-chain trading products continue to improve, with deeper aggregator liquidity and faster cross-chain swap routing, narrowing the execution gap with centralized exchanges. Analysts expect that the improved experience and cost will continue to drive users towards on-chain alternatives.