In the latest Chainalysis report, the decentralized crypto exchange platform (DEX) recorded rapid growth compared to the centralized crypto exchange platform (CEX).
Yet Binance, which is part of the CEX group still recorded incredible popularity with a record of visitors to the platform reaching 171 million in October.
The following are details from Chainalysis for the CEX and DEX growth indices:
For the first quarter (Q1) 2019 and third quarter (Q3) 2021 records, DEX volume has increased over 100%, being at around 205 levels by June 2021.
For example, PancakeSwap (DEX which operates the Binance Smart Chain) saw an increase in the number of investors by 14% month -on -month with a record 25 million visitors.
CEX for the same period has risen from around 100 to 120, before falling back to the level of 100.
With a record 171 million visitors to its platform in October, Binance saw a record jump of 12% over September.
While Coinbase was in second place with a record visitors of 91 million for October, up 31% from the previous month.
The record number of brokers for over-the-counter (OTC) also recorded an increase of 50%, at 150 in Q3 2021.
The number of derivatives exchanges recorded a slight jump to levels around 125 in 2019.
The stock market is at risk of penetrating to around 150 in mid -2020 before falling below 100 in Q3 2021.
It can be seen that the growth of DEX over the past 2 years is related to the development of the decentralized financial sector (DeFi).
Binance, on the other hand, despite facing supervisory oversight from several major countries, the platform still remains the choice of crypto investors around the world.
