Perpetual Contracts Trading Volume on DEXs Exceeds 1 Trillion for Second Month

by Maya Lundqvist

2 hours ago

In a remarkable display of growth, the trading volume of perpetual contracts on decentralized exchanges (DEXs) has surpassed 1 trillion for the second month in a row, signaling a robust trend in the crypto market. Based on the data provided in the document, this surge reflects increasing investor confidence and participation in the decentralized finance space.

Trading Volume Surge in November 2023

In November 2023, the trading volume reached an impressive 1.317 trillion, following a record-breaking October where it peaked at 1.37 trillion. This surge in trading activity highlights a growing investor confidence in decentralized platforms, as more traders turn to DEXs for their trading needs.

Emerging DEX Protocols

Newer DEX protocols such as

Lighter
Astar

are gaining traction, contributing to the overall increase in volume. However, despite this significant growth in decentralized trading, centralized exchanges continue to maintain a dominant position in the crypto futures market, showcasing the ongoing competition between these two trading environments.

In a notable development, BitMine has acquired 48,623 ETH from Kraken and BitGo, highlighting its aggressive strategy in the cryptocurrency market. This move contrasts with the recent surge in trading volumes on decentralized exchanges. For more details, see BitMine's Acquisition.

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