In December, the volume of futures trading on decentralized exchanges (DEXs) significantly increased, reaching a record 10.17% of the volume seen on centralized exchanges (CEXs). This increase is due to significant improvements in user experience and infrastructure over the past few years.
Growth in DEX Trading Volume
In December, the total trading volume on decentralized exchanges (DEXs) reached $285 billion. This increase is attributed to the growing adoption of platforms like Hyperliquid, Jupiter, ApeX, Satori Finance, and Drift, which have shown an average growth rate of 26.5% per month throughout 2024.
Leading Growth Platforms
Hyperliquid led the market by contributing 78.8% of the total DEX futures volume. In December, Hyperliquid alone recorded over $225 million in monthly volume, while Jupiter captured 9.8% of the market, recording over $28 million.
Comparison with Centralized Exchanges
While DEX futures trading is growing, centralized exchanges (CEXs) still dominate in overall volume. In December, Bitcoin futures on CEXs totaled over $2.14 trillion, and Ethereum futures reached $1.28 trillion, indicating a significant difference in volumes compared to DEXs. However, Bitcoin futures volumes on CEXs dropped 17% compared to November, and Ethereum volumes remained steady.
Despite the dominance of centralized exchanges in total trading volume, decentralized platforms are steadily increasing their market share, showcasing rapid growth and the potential for further strengthening.
