The Q3 report by crypto market information firm CoinGecko attributes the increase in the trading volume of DEXs to the hype around the decentralized finance DeFi market which has seen significant growth this year.
However, CoinGecko notes that centralized exchanges still have the bulk of the trading volume as shown in the figure below.
Amid price pullbacks in Q3, it will be interesting to see what happens to the DeFi market at the end of Q4. Will the trend continue or it will change soon?
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