Scott Cook reports in cryptonewsz.com how decentralized ecosystems (DEXs) are challenging the legacy centralized exchanges and winning.
Highlights:
The reason behind the massive shift from centralized exchanges to decentralized ecosystems - "DeFi protocols introduce decentralized ecosystems governed through Decentralized Autonomous Organizations (DAOs). Unlike their centralized counterparts, DeFi protocols are permissionless and rely on smart contracts for execution."
According to latest crypto exchange market report by Chainalysis, the total value received by DEXes shot up from $10 billion to $143 billion as of September 2021.
The author concludes that Despite this growth being attributed to DEX spot markets, there are other emerging trends, including decentralized crypto derivatives exchanges.
Source credit and full story - https://www.cryptonewsz.com/crypto-trading-volumes-moving-to-the-decentralized-ecosystem/
With all these emerging trends that support the growth of DEXs what would be the future of the centralized exchanges will they complement each other or will the DEXs destroy the centralized exchanges?
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