In a remarkable shift within the cryptocurrency trading landscape, the ratio of decentralized exchanges (DEX) to centralized exchanges (CEX) for futures trading has surged to an unprecedented 117 in November 2025. According to the results published in the material, this milestone highlights a significant uptick in decentralized futures trading activity.
DEX to CEX Futures Trading Ratio Growth
According to data from CoinGecko, the DEX to CEX futures trading ratio has demonstrated consistent month-on-month growth, signaling a resurgence in perpetual DEX trading. This trend is further fueled by the emergence of new players in the DEX market, including innovative platforms like:
- Hyperliquid
- Lighter
- EdgeX
Impact of New Players on DEX Market
Hyperliquid, in particular, has made waves with its impressive trading volumes, showcasing the potential of decentralized trading platforms to attract users. As interest in DEXs continues to rise, this development reflects a broader shift towards decentralized finance, as traders seek more autonomy and flexibility in their trading strategies.
The recent downturn in the US job market is affecting Ether traders, who are becoming more cautious amid rising layoffs. This situation contrasts with the surge in decentralized futures trading highlighted in the previous report. For more details, see job market impact.
