- Coinbase Global Inc’s trading volume surpasses that of Uniswap.
- According to analysts, CEX will always be integral to the exchange landscape.
- Coinbase also closed trading on Binance USD on Monday.
travel – A prominent digital asset data provider confirmed on Monday that Coinbase’s trading volume is currently outstripping Uniswap.
Coinbase Trading Volume Exceeds $185 Billion
As of last weekend, trading volume on cryptocurrency exchanges surpassed $185 billion. That’s almost double his $93 billion in decentralized counterpart Uniswap.
Following the collapse of centralized platforms, including the FTX exchange, last year, many expected a shift to decentralized exchanges (DEXs). However, according to Connor Ryder, a Kaiko research analyst, in his CoinDesk reaction on Twitter, it is “a bit premature.”
The average investor is still put off by the worse user experience on some of these DEXs compared to the simpler experience on the CEX. I think CEX will always be an integral part of the exchange landscape.
DEX trading volume once reached $113 billion
It’s worth noting here that at some point last year, Coinbase and Uniswap had roughly the same trading volume.
Followed by FTX debacle In November, the decentralized exchange reported a whopping $113 billion in trading volume. By comparison, he’s unlikely to even cross $100 billion this month.
Last week, the cryptocurrency exchange reported better-than-expected earnings for the fourth quarter. Also on Monday, Coinbase Ended Binance USD trading fails to justify listing criteria. The company’s stock is now up more than 75% year-to-date.