DEX market share hits a record high, with June trading volume accounting for nearly 30% of CEX spot trading volume.

In June, the spot trading volume of decentralized exchanges (DEX) reached approximately $385 billion, accounting for nearly 30% of the trading volume of centralized exchanges (CEX).

Although the 30-day trading volume of DEX decreased by 12% compared to May, the spot trading volume of CEX shrank by nearly 30% during the same period, marking the smallest monthly trading volume for CEX since September 2024.

According to chart data from The Block, the current DEX/CEX trading volume ratio has reached 29.01%, setting a new historical high, surpassing the previous record of 20.13% in May.

Market data shows that leading DEX platforms like Uniswap and PancakeSwap have demonstrated strong resilience, with trading volume only declining by 10%, primarily due to stablecoin trading on Ethereum and the continued activity in the public chain ecosystems like BNB and Solana.

Meanwhile, centralized exchanges (CEX) are facing ongoing challenges of capital outflow, with mainstream CEX platforms like Binance and Coinbase experiencing significant declines in trading volume and weak capital inflows. Binance had a net inflow of 5,700 BTC over the past 30 days, which is less than half of the average level since 2020.

On-chain data further supports this trend, as Nansen monitoring shows that since June 17, the reserves of ERC-20 stablecoins on CEX platforms have been continuously declining. This structural shift reflects a deep change in trading behavior patterns, with professional investors viewing CEX as a tool for exiting liquidity while shifting core trading activities on-chain.

This transition is not a short-term phenomenon; since 2025, the DEX/CEX trading volume ratio has consistently remained above 12%, in stark contrast to only four instances of breaking this threshold between 2019 and 2024.

Analysts point out that if the current average daily trading volume of $13 billion can be maintained, DEX monthly trading volume is expected to surpass the $400 billion mark.

Overall, the market is undergoing a paradigm shift from centralized to decentralized, a trend that could reshape the entire cryptocurrency trading ecosystem.