Major CEXs Experience 3X Surge in Monthly Trading Volumes from October 2023: Bybit
Centralized cryptocurrency exchanges (CEXs) like Binance experienced a notable surge in trading volumes between October 2023 and March 2024, tripling in size according to the Bybit Institutional Report 2024.
However, this CEX growth hasn’t surpassed the even more rapid expansion of decentralized exchanges (DEXs). Leading DEX Uniswap v3, for instance, saw a 320% increase in volumes during the same period, as highlighted in Bybit’s data.
On April 18, Bybit joined forces with Treehouse, a renowned research institute specializing in cryptocurrencies, to unveil the 2024 Institutional Industry Report.
This comprehensive report offers insights into the current state of the global CEX trading volumes and crypto adoption and compares it to traditional finance (TradFi).
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