Decentralized exchanges (DEXs) are making significant strides in the perpetual trading market, as highlighted in a recent report by CoinGecko. According to the results published in the material, the data reveals a remarkable increase in the trading volume ratio between DEXs and centralized exchanges (CEXs), indicating a shift in trader preferences towards decentralized platforms.
Surge in DEX to CEX Perpetual Trading Volume Ratio
The DEX to CEX perpetual trading volume ratio surged from 21 in January 2023 to an impressive 117 by November 2025. This growth trend is underscored by November marking the 14th consecutive month of month-on-month increases in DEX perpetual volumes.
Record High DEX Perpetual Trading Volumes
In October alone, DEX perpetual trading volumes reached a record high of 90.356 billion, representing more than a tenfold increase compared to the same period last year. This surge has been fueled by the emergence of new players in the market, including:
- Hyperliquid
- Lighter
- EdgeX
These new entrants have contributed to the growing popularity of decentralized trading solutions.
As decentralized exchanges gain traction in the trading market, Bitcoin has recently surpassed the $91,000 mark, highlighting a significant shift in market dynamics. For more details, see Bitcoin's Price Surge.
