DEX to CEX Spot Trade Volume, the ratio of decentralized exchange (DEX) to centralized exchange (CEX) spot trade volume, is on track to hit a new all-time high, sitting at 13.76% in July 2024 at the time of writing, edging past the previous record of 13.7% set in May 2023.

This milestone comes as DEX volume reached $123 billion in June, compared to $1.11 trillion in volume on CEXs for the same period.

While impressive, it's worth noting DEX volume peaked earlier this year at $203 billion in March 2024, suggesting there's still room for growth in this trend.

The landscape of DEX trading is evolving, with some interesting shifts in market share. Uniswap continues to dominate, accounting for about 40% of DEX volume in the past few months. Notably, Raydium has …