- The decentralized exchange (DEX) to centralized exchange (CEX) trading volume ratio has hit a new all-time high of 22%.
- This is attributed to more regulation, which has led to DEXs gaining market share.
- JP Morgan is seeking blockchain technology to improve interbank dollar settlement in India.
SEC Lawsuit against Binance and CZ
Binance and its CEO Changpeng Zhao have been sued by the SEC for breaching securities law. This news has further increased speculation that a Central Asian country may announce it is holding Bitcoin in its treasury.
DeFi Summer Causes Increase in DEX-CEX Ratio
Analysis of the DEX-CEX trade volume ratio suggests DEX users are continuing to hold steady as CEX users dwindle. This increase began around May 2020 during “DeFi summer”, when DeFi applications supporting yield farming, lending, and borrowing first took off – peaking at 16% by September 2020. The ratio reached a new top by January 2022 of approximately 17%, before falling and bottoming at 8% by September 2022.