According to The Block Research, centralized cryptocurrency exchanges (CEX) recorded a trading volume of more than 14 trillion USD in 2021, which is an extremely large number compared to previous years.
$14 trillion – a whopping 689% increase from 2020 trading volume, based on data as of Dec. 24. In 2020, centralized crypto exchanges only recorded 1 ,8 trillion USD.
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All these figures are aggregated by The Block Legitimate Index, data taken directly from the trading volumes of the largest centralized cryptocurrency exchanges in the world.
Binance continues to dominate the CEX market – according to The Block Research – Binance has accounted for 67% of the total global crypto trading volume this year, which is more than $9.5 trillion.
Centralized and decentralized exchanges have both seen massive growth in their trading volumes this year.
As BTA reported, decentralized exchanges (DEX) also recorded over $1 trillion in trading volume in 2021, representing an 858% growth over last year’s trading volume.
In 2020, DEX exchanges recorded only 115 billion USD in trading volume.
Overall, DEX trading volumes peaked in May of this year at $162.8 billion.
Uniswap continues to dominate the DEX market. This exchange has a market share of more than 75% this month as of the time of this writing.
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